Montrusco Bolton Investments Inc. Sells 357,045 Shares of Uber Technologies, Inc. $UBER

Key Points

• Montrusco Bolton Investments Inc. reduced its stake in Uber Technologies by 10.9%, selling 357,045 shares, leaving it with approximately 2.9% of its portfolio in Uber as of the latest SEC filing.
• Analysts have set a consensus target price of $104.03 for Uber Technologies, with numerous firms like BMO Capital Markets and Royal Bank Of Canada increasing their price targets significantly.
• Insider transactions included CFO Prashanth Mahendra-Rajah selling 2,750 shares and CEO Dara Khosrowshahi selling 300,000 shares, demonstrating a notable decrease in their ownership positions.

Montrusco Bolton Investments Inc. trimmed its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,906,773 shares of the ride-sharing company's stock after selling 357,045 shares during the quarter. Uber Technologies comprises approximately 2.9% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 12th biggest position. Montrusco Bolton Investments Inc. owned about 0.14% of Uber Technologies worth $264,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vision Financial Markets LLC acquired a new stake in Uber Technologies during the 1st quarter worth approximately $27,000. West Oak Capital LLC bought a new position in Uber Technologies during the 2nd quarter worth $28,000. GPS Wealth Strategies Group LLC raised its stake in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares in the last quarter. Truvestments Capital LLC increased its stake in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock valued at $30,000 after acquiring an additional 339 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in Uber Technologies in the second quarter valued at about $30,000. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on UBER shares. Royal Bank Of Canada boosted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. BMO Capital Markets boosted their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company lowered their target price on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. Roth Capital lifted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Uber Technologies in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies Price Performance

UBER stock opened at $93.52 on Monday. The company's fifty day simple moving average is $94.86 and its 200 day simple moving average is $88.00. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The firm has a market cap of $195.03 billion, a price-to-earnings ratio of 15.93 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Uber Technologies's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares of the company's stock, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 601,821 shares of company stock valued at $58,659,491. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.

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