Seaview Investment Managers LLC Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Seaview Investment Managers LLC reduced its stake in Uber Technologies by 3.4%, now holding 140,531 shares worth $10,239,000, making it the firm's 12th largest holding.
• Uber Technologies reported $0.63 earnings per share for the last quarter, exceeding analyst estimates, with revenue increasing by 18.2% year-over-year to $12.65 billion.
• Several analysts have issued positive ratings for Uber, with target prices increasing up to $117.00, reflecting bullish sentiment on the stock's growth potential.

Seaview Investment Managers LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,531 shares of the ride-sharing company's stock after selling 4,985 shares during the quarter. Uber Technologies accounts for 3.2% of Seaview Investment Managers LLC's investment portfolio, making the stock its 12th largest holding. Seaview Investment Managers LLC's holdings in Uber Technologies were worth $10,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of UBER. Transce3nd LLC purchased a new position in Uber Technologies in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC purchased a new position in Uber Technologies in the fourth quarter valued at about $27,000. Kozak & Associates Inc. grew its position 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 valued at $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies during the 1st quarter worth approximately $27,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $27,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 0.8%

NYSE:UBER opened at $90.97 on Thursday. The firm has a market capitalization of $189.71 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.05 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. The company has a fifty day moving average of $89.92 and a 200 day moving average of $81.54. 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 posted 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 company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on UBER shares. Morgan Stanley reissued an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Bank of America lifted their price objective on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays reaffirmed an "overweight" rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. UBS Group lifted their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Roth Capital raised their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $102.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.