Procyon Advisors LLC Sells 3,753 Shares of Uber Technologies, Inc. $UBER

Key Points

• Procyon Advisors LLC has reduced its stake in Uber Technologies, Inc. by 39.3%, now holding 5,786 shares valued at approximately $540,000.
• Insider activity includes CFO Prashanth Mahendra-Rajah selling 2,750 shares at an average price of $99.42, representing a 10.88% decrease in his holdings.
• Wall Street analysts remain optimistic, with multiple brokerages raising their target prices and a consensus rating of “Moderate Buy” for Uber's stock, now averaging a target price of $103.06.

Procyon Advisors LLC trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 39.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,786 shares of the ride-sharing company's stock after selling 3,753 shares during the period. Procyon Advisors LLC's holdings in Uber Technologies were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $93.94, for a total value of $293,562.50. Following the completion of the transaction, the insider owned 171,558 shares of the company's stock, valued at $16,116,158.52. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 354,571 shares of company stock valued at $33,810,741. Insiders own 3.84% of the company's stock.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded up $3.98 during trading on Friday, hitting $98.68. 38,703,086 shares of the company's stock were exchanged, compared to its average volume of 16,364,744. The stock has a market capitalization of $205.79 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.09 and a beta of 1.43. The business has a 50-day simple moving average of $92.63 and a 200-day simple moving average of $85.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $99.70.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion for 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 firm's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 EPS. On average, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

UBER has been the topic of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Royal Bank Of Canada boosted their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, UBS Group boosted their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

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.