New Century Financial Group LLC Reduces Stake in Uber Technologies, Inc. $UBER

Key Points

• New Century Financial Group LLC reduced its stake in Uber Technologies by 57.9%, owning 3,599 shares valued at $336,000 by the end of the last quarter.
• Insider Dara Khosrowshahi sold 150,000 shares of Uber stock, representing a 13.24% decrease in his holdings, following a similar sale by another insider.
• Uber Technologies' latest earnings report revealed an EPS of $0.63, exceeding estimates and showcasing a year-over-year revenue growth of 18.2%.

New Century Financial Group LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 57.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,599 shares of the ride-sharing company's stock after selling 4,949 shares during the period. New Century Financial Group LLC's holdings in Uber Technologies were worth $336,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies during the 1st quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Northern Trust Corp grew its stake in shares of Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after acquiring an additional 720,122 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Uber Technologies by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after acquiring an additional 394,157 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the transaction, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. This represents a 13.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 604,571 shares of company stock worth $58,920,741 over the last three months. Corporate insiders own 3.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UBER. Piper Sandler lifted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Barclays reiterated an "overweight" rating and issued a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Susquehanna raised their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $104.09.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $96.51 on Friday. The stock has a market cap of $201.27 billion, a PE ratio of 16.44 and a beta of 1.48. The company's fifty day moving average is $93.83 and its 200 day moving average is $86.87. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. 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 (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates 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 was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.