Silicon Valley Capital Partners Trims Stake in Uber Technologies, Inc. $UBER

Key Points

• Silicon Valley Capital Partners has reduced its stake in Uber Technologies by 52.8%, selling 18,591 shares, and now holds 16,592 shares valued at approximately $1.2 million.
• Uber reported earnings of $0.63 per share, surpassing analyst expectations and showing an 18.2% increase in revenue year-over-year, reaching $12.65 billion.
• Institutional investors currently own 80.24% of Uber's stock, highlighting strong institutional interest in the company amidst various adjustments by hedge funds.

Silicon Valley Capital Partners reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 52.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,592 shares of the ride-sharing company's stock after selling 18,591 shares during the quarter. Silicon Valley Capital Partners' holdings in Uber Technologies were worth $1,207,000 at the end of the most recent quarter.

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

Uber Technologies Trading Down 1.3%

NYSE:UBER opened at $94.24 on Thursday. The firm has a fifty day simple moving average of $92.54 and a 200-day simple moving average of $84.30. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $196.53 billion, a P/E ratio of 16.05, a PEG ratio of 1.09 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the prior year, the company earned $0.47 earnings per share. The company's revenue was up 18.2% on a year-over-year basis. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on UBER shares. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. BMO Capital Markets upped their price target on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus upped their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $103.06.

Insider Buying and Selling

In other news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is currently owned by corporate insiders.

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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