Nepsis Inc. Sells 55,008 Shares of Uber Technologies, Inc. $UBER

Key Points

• Nepsis Inc. reduced its stake in Uber Technologies by 19.8%, selling 55,008 shares, but still holds approximately 5.8% of its portfolio in UBER, valued at about $20.8 million.
• Several large investors increased their stakes in Uber, with notable purchases from GAMMA Investing LLC (29.4% increase) and Toth Financial Advisory Corp (465.1% increase) during the second quarter.
• Insider sales have occurred recently, including CFO Prashanth Mahendra-Rajah selling 2,750 shares and Jill Hazelbaker selling 31,250 shares, amounting to a total insider sale of 354,571 shares worth over $33 million in the past three months.

Nepsis Inc. reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 19.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,924 shares of the ride-sharing company's stock after selling 55,008 shares during the quarter. Uber Technologies comprises about 5.8% of Nepsis Inc.'s portfolio, making the stock its largest holding. Nepsis Inc.'s holdings in Uber Technologies were worth $20,799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of UBER. GAMMA Investing LLC lifted its stake in shares of Uber Technologies by 29.4% during the second quarter. GAMMA Investing LLC now owns 29,448 shares of the ride-sharing company's stock worth $2,747,000 after buying an additional 6,695 shares during the period. ABLE Financial Group LLC raised its stake in Uber Technologies by 6.4% in the 2nd quarter. ABLE Financial Group LLC now owns 14,106 shares of the ride-sharing company's stock worth $1,316,000 after acquiring an additional 844 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in Uber Technologies by 3.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 107,057 shares of the ride-sharing company's stock worth $9,988,000 after acquiring an additional 4,017 shares during the period. Toth Financial Advisory Corp grew its stake in Uber Technologies by 465.1% during the 2nd quarter. Toth Financial Advisory Corp now owns 4,860 shares of the ride-sharing company's stock valued at $453,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Edge Wealth Management LLC grew its stake in Uber Technologies by 27.3% during the 2nd quarter. Edge Wealth Management LLC now owns 3,634 shares of the ride-sharing company's stock valued at $339,000 after purchasing an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 354,571 shares of company stock worth $33,810,741. 3.70% of the stock is currently owned by insiders.

Uber Technologies Trading Up 4.2%

Shares of UBER opened at $98.68 on Monday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $99.70. The stock has a market cap of $205.79 billion, a PE ratio of 16.81 and a beta of 1.43. The firm's fifty day moving average is $92.63 and its two-hundred day moving average is $85.45. 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 posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $0.47 earnings per share. Research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on UBER shares. JPMorgan Chase & Co. lifted their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Stifel Nicolaus lifted their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Raymond James Financial upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. Barclays reissued an "overweight" rating and set a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

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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