New England Research & Management Inc. Has $2.06 Million Holdings in Uber Technologies, Inc. $UBER

Key Points

• New England Research & Management Inc. has reduced its holdings in Uber Technologies by 49.4%, resulting in ownership of 22,069 shares valued at approximately $2.06 million.
• Over 80% of Uber's stock is currently owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Uber Technologies reported quarterly earnings of $0.63 per share, surpassing expectations, with revenue reaching $12.65 billion, an 18.2% increase from the previous year.

New England Research & Management Inc. cut its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 49.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,069 shares of the ride-sharing company's stock after selling 21,569 shares during the quarter. Uber Technologies makes up about 1.0% of New England Research & Management Inc.'s holdings, making the stock its 29th biggest position. New England Research & Management Inc.'s holdings in Uber Technologies were worth $2,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Alliance LLC grew its stake in Uber Technologies by 62.4% in the 2nd quarter. Fiduciary Alliance LLC now owns 15,145 shares of the ride-sharing company's stock valued at $1,413,000 after buying an additional 5,821 shares during the last quarter. First Bank & Trust grew its stake in Uber Technologies by 0.7% in the 2nd quarter. First Bank & Trust now owns 38,914 shares of the ride-sharing company's stock valued at $3,631,000 after buying an additional 280 shares during the last quarter. Triumph Capital Management grew its position in Uber Technologies by 4.9% in the 2nd quarter. Triumph Capital Management now owns 6,964 shares of the ride-sharing company's stock worth $650,000 after purchasing an additional 326 shares during the last quarter. Central Bank & Trust Co. acquired a new stake in Uber Technologies in the 2nd quarter worth $620,000. Finally, Key Client Fiduciary Advisors LLC grew its position in Uber Technologies by 9.0% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 5,713 shares of the ride-sharing company's stock worth $533,000 after purchasing an additional 470 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UBER. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Wells Fargo & Company raised their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Roth Capital raised their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Bank of America lifted their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction 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 owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,696 shares of company stock worth $4,632,774. Company insiders own 3.70% of the company's stock.

Uber Technologies Trading Up 3.0%

NYSE UBER opened at $98.79 on Tuesday. The firm has a market cap of $206.02 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock's 50-day moving average is $92.66 and its 200-day moving average is $84.87. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $98.86.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

About Uber Technologies

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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