Poinciana Advisors Group LLC Purchases Shares of 2,755 Uber Technologies, Inc. $UBER

Key Points

• Poinciana Advisors Group LLC has acquired 2,755 shares of Uber Technologies, Inc., valued at approximately $257,000, as part of a new investment.
• Research analysts have raised their price targets for Uber, with Raymond James setting a new target of $105.00 and KeyCorp increasing theirs to $110.00, indicating strong market confidence.
• Uber's CEO, Dara Khosrowshahi, sold 150,000 shares totaling approximately $15 million, resulting in a 13.24% reduction in his stake in the company.

Poinciana Advisors Group LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,755 shares of the ride-sharing company's stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after buying an additional 3,073 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Uber Technologies by 805.4% in the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after purchasing an additional 91,362 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Uber Technologies by 42.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock valued at $70,822,000 after purchasing an additional 226,960 shares during the period. Kapstone Financial Advisors LLC acquired a new position in shares of Uber Technologies in the second quarter valued at about $415,000. Finally, Revolve Wealth Partners LLC increased its holdings in shares of Uber Technologies by 65.0% in the fourth 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. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James Financial increased their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. KeyCorp increased their price objective on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Needham & Company LLC increased their price objective on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. UBS Group increased their price objective on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Cowen reissued a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.30.

Insider Buying and Selling

In other Uber Technologies news, 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 value of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares of the company's stock, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,571 shares of company stock valued at $58,920,741 in the last 90 days. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Stock Up 1.1%

Uber Technologies stock opened at $99.52 on Tuesday. The firm has a market cap of $207.53 billion, a price-to-earnings ratio of 16.95 and a beta of 1.43. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The business's 50-day moving average price is $93.46 and its 200 day moving average price is $86.56. 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 earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the company earned $0.47 earnings per share. Uber Technologies's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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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