Shikiar Asset Management Inc. Has $12.69 Million Stake in Uber Technologies, Inc. $UBER

Key Points

• Shikiar Asset Management Inc. reduced its stake in Uber Technologies, Inc. by 10.3% during the second quarter, now holding 136,012 shares worth approximately $12.69 million.
• Insider trading activity saw Tony West and Jill Hazelbaker sell significant amounts of Uber stock, with a total of 601,821 shares sold by insiders valued at around $58.66 million over the past three months.
• Uber Technologies reported a quarterly earnings per share of $0.63, exceeding estimates, with quarterly revenue of $12.65 billion, marking an 18.2% year-over-year increase.

Shikiar Asset Management Inc. lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 10.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,012 shares of the ride-sharing company's stock after selling 15,610 shares during the quarter. Uber Technologies makes up 3.5% of Shikiar Asset Management Inc.'s portfolio, making the stock its 4th biggest position. Shikiar Asset Management Inc.'s holdings in Uber Technologies were worth $12,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. West Oak Capital LLC bought a new position in shares of Uber Technologies during the second quarter valued at approximately $28,000. Noble Wealth Management PBC bought a new position in shares of Uber Technologies during the first quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies during the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 299 shares in the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock valued at $30,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 3.2%

NYSE UBER opened at $96.06 on Friday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The stock has a market cap of $200.32 billion, a P/E ratio of 16.36 and a beta of 1.48. The stock's fifty day moving average price is $94.73 and its 200-day moving average price is $87.69. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $12.45 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares of the company's stock, valued at $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 over the last three months. 3.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Barclays reiterated an "overweight" rating and issued a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Stifel Nicolaus increased their price objective on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, KeyCorp increased their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.03.

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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