Uber Technologies, Inc. $UBER Shares Sold by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC reduced its stake in Uber Technologies, Inc. by 4.7%, selling 4,919 shares during the second quarter, bringing its total holdings to 100,570 shares worth approximately $9.38 million.
• Uber reported a net margin of 26.68% and earnings per share (EPS) of $0.63 for the recently ended quarter, surpassing analyst expectations of $0.61, with revenues totaling $12.65 billion, up 18.2% year-over-year.
• Analysts have set new price targets for Uber, with several raising their objectives; for instance, Cantor Fitzgerald set a new target of $106.00, indicating potential growth in the stock's value.

Park Avenue Securities LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,570 shares of the ride-sharing company's stock after selling 4,919 shares during the quarter. Park Avenue Securities LLC's holdings in Uber Technologies were worth $9,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the fourth quarter worth $27,000. Kozak & Associates Inc. boosted its stake 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 acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Uber Technologies in the 1st quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new position in Uber Technologies in the 1st quarter valued at $27,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 299 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Up 1.0%

UBER traded up $0.97 during trading on Monday, hitting $99.48. 29,803,408 shares of the company's stock were exchanged, compared to its average volume of 17,522,252. 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's 50 day moving average is $92.74 and its two-hundred day moving average is $85.61. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The stock has a market cap of $207.47 billion, a P/E ratio of 16.95 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the business earned $0.47 earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on UBER. Stifel Nicolaus upped their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Raymond James Financial increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. Susquehanna upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Needham & Company LLC upped their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $103.06.

Insider Transactions at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares of the company's stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,571 shares of company stock worth $33,810,741 over the last quarter. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Company 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.