Rafferty Asset Management LLC Sells 51,721 Shares of Uber Technologies, Inc. $UBER

Key Points

• Rafferty Asset Management LLC has reduced its holdings in Uber Technologies by 21.6%, selling 51,721 shares and now owning 187,289 shares valued at approximately $13.6 million.
• Uber Technologies recently reported a quarterly EPS of $0.63, surpassing estimates of $0.61, and generated a revenue of $12.65 billion, indicating an 18.2% year-over-year increase.
• Insider Jill Hazelbaker sold 31,250 shares of Uber stock recently, highlighting ongoing transactions among company insiders, with a total of 45,571 shares sold in the last ninety days.

Rafferty Asset Management LLC lowered its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 187,289 shares of the ride-sharing company's stock after selling 51,721 shares during the quarter. Rafferty Asset Management LLC's holdings in Uber Technologies were worth $13,646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the fourth quarter worth approximately $27,000. Kozak & Associates Inc. increased its holdings in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the 1st quarter worth $27,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies in the 1st quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC lifted its stake 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. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $96.71 on Wednesday. The company has a 50 day moving average price of $91.52 and a 200 day moving average price of $83.26. The firm has a market capitalization of $201.69 billion, a P/E ratio of 16.48, a PEG ratio of 1.09 and a beta of 1.43. 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, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71.

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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Uber Technologies 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 of the company's stock, valued at approximately $8,343,319.02. The trade was 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 the business's 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 in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,571 shares of company stock valued at $4,335,899 over the last ninety days. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on UBER. JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Morgan Stanley restated an "overweight" rating and issued a $115.00 price target (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Needham & Company LLC lifted their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Sanford C. Bernstein raised their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $102.82.

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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