NBC Securities Inc. Sells 9,505 Shares of Uber Technologies, Inc. $UBER

Key Points

• NBC Securities Inc. reduced its holdings in Uber Technologies by 17.1% in the second quarter, selling 9,505 shares and retaining 46,075 shares valued at approximately $4.3 million.
• Insider transactions included a sale by Tony West of 3,125 shares valued at $296,875, while CFO Prashanth Mahendra-Rajah sold 2,750 shares worth about $261,250.
• Analysts have mixed ratings for Uber, with a consensus target price of $103.06 and several firms raising their price objectives, indicating a bullish outlook despite some holds.

NBC Securities Inc. reduced its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 17.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,075 shares of the ride-sharing company's stock after selling 9,505 shares during the quarter. NBC Securities Inc.'s holdings in Uber Technologies were worth $4,298,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Legacy Private Trust Co. increased its holdings in shares of Uber Technologies by 27.0% in the second quarter. Legacy Private Trust Co. now owns 50,790 shares of the ride-sharing company's stock worth $4,739,000 after acquiring an additional 10,812 shares in the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of Uber Technologies by 9.8% during the second quarter. Quintet Private Bank Europe S.A. now owns 4,317 shares of the ride-sharing company's stock worth $403,000 after buying an additional 385 shares in the last quarter. Gradient Investments LLC bought a new position in shares of Uber Technologies during the second quarter worth about $17,673,000. GK Wealth Management LLC grew its holdings in shares of Uber Technologies by 46.7% during the second quarter. GK Wealth Management LLC now owns 5,006 shares of the ride-sharing company's stock worth $467,000 after buying an additional 1,593 shares in the last quarter. Finally, RF&L Wealth Management LLC bought a new position in shares of Uber Technologies during the second quarter worth about $233,000. 80.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the sale, the insider directly owned 170,269 shares of the company's stock, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,696 shares of company stock valued at $4,632,774. Corporate insiders own 3.70% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on UBER. Canaccord Genuity Group reiterated a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Bank of America increased their price objective on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Roth Capital increased their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Stock Up 1.3%

UBER stock opened at $95.90 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $92.62 and a two-hundred day moving average price of $84.71. The company has a market cap of $199.99 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.10 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period last year, the firm posted $0.47 earnings per share. The business's revenue was up 18.2% on a year-over-year basis. Analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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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