Opal Wealth Advisors LLC Cuts Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Opal Wealth Advisors LLC reduced its stake in Uber Technologies by 41.1% during Q2, selling 3,042 shares and holding 4,367 shares valued at $407,000.
• Various institutional investors have either increased or newly established positions in Uber, with 80.24% of the stock currently owned by hedge funds and institutions.
• Uber's latest earnings report showed a 18.2% increase in revenue year-over-year, with EPS of $0.63, surpassing analyst estimates of $0.61.

Opal Wealth Advisors LLC lowered its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 41.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,367 shares of the ride-sharing company's stock after selling 3,042 shares during the period. Opal Wealth Advisors LLC's holdings in Uber Technologies were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kozak & Associates Inc. lifted its position in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new stake in Uber Technologies during the first quarter worth $27,000. GPS Wealth Strategies Group LLC lifted its holdings in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after acquiring an additional 299 shares during the period. Finally, Perkins Coie Trust Co boosted its position in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 306 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America raised their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. BMO Capital Markets raised their target price on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler raised their target price on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Wedbush decreased their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Stock Up 1.0%

UBER stock opened at $99.48 on Tuesday. 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 firm has a market capitalization of $207.47 billion, a PE ratio of 16.95 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The stock has a 50-day simple moving average of $92.74 and a two-hundred day simple moving average of $85.61.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction dated 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 in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 354,571 shares of company stock worth $33,810,741. Company insiders own 3.70% of the company's stock.

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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