Perigon Wealth Management LLC Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Perigon Wealth Management LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,058 shares of the ride-sharing company's stock after selling 26,632 shares during the quarter. Perigon Wealth Management LLC's holdings in Uber Technologies were worth $5,906,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Clark Capital Management Group Inc. lifted its position in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after acquiring an additional 399,008 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of Uber Technologies in the 4th quarter valued at about $1,875,000. Finally, APG Asset Management N.V. purchased a new position in Uber Technologies during the 4th quarter worth approximately $84,687,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UBER shares. Raymond James Financial downgraded Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. KGI Securities reiterated a "neutral" rating and issued a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Fox Advisors downgraded shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, March 11th. DA Davidson lifted their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Bank of America increased their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.18.

Uber Technologies Price Performance

Uber Technologies stock opened at $93.09 on Friday. The firm has a market capitalization of $194.67 billion, a PE ratio of 16.30, a P/E/G ratio of 1.15 and a beta of 1.38. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $94.38. The firm's 50-day simple moving average is $84.83 and its 200 day simple moving average is $75.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares of the company's stock, valued at approximately $1,790,355. The trade was a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.84% 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.

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