Sterling Investment Counsel LLC Sells 8,467 Shares of Uber Technologies, Inc. $UBER

Key Points

• Sterling Investment Counsel LLC has reduced its stake in Uber Technologies by 50.4%, selling 8,467 shares and currently holding 8,328 shares valued at approximately $777,000.
• Uber's most recent earnings report showed an EPS of $0.63, which exceeded expectations, along with a year-over-year revenue increase of 18.2% to $12.65 billion.
• Multiple brokerages have revised their price targets for Uber, with Wells Fargo & Company increasing its target from $119.00 to $127.00, indicating a strong demand for the stock.

Sterling Investment Counsel LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 50.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,328 shares of the ride-sharing company's stock after selling 8,467 shares during the period. Sterling Investment Counsel LLC's holdings in Uber Technologies were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nova Wealth Management Inc. raised its position in shares of Uber Technologies by 41.0% during the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock valued at $31,000 after buying an additional 125 shares during the last quarter. Atticus Wealth Management LLC increased its position in Uber Technologies by 39.8% in the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after purchasing an additional 127 shares during the last quarter. Grove Bank & Trust increased its position in Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after purchasing an additional 133 shares during the last quarter. Forum Financial Management LP increased its position in Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after purchasing an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Down 0.1%

Shares of UBER opened at $96.51 on Friday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company has a market capitalization of $201.27 billion, a PE ratio of 16.44 and a beta of 1.48. The stock has a fifty day simple moving average of $93.83 and a two-hundred day simple moving average of $86.87. 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 (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on UBER. Wells Fargo & Company boosted their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Piper Sandler boosted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Susquehanna upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. UBS Group boosted their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus boosted their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $104.09.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares of the company's stock, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is currently owned by corporate insiders.

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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