Talbot Financial LLC Boosts Holdings in Uber Technologies, Inc. $UBER

Key Points

• Talbot Financial LLC increased its holdings in Uber Technologies by 17.7% during the second quarter, acquiring an additional 18,407 shares, bringing their total to 122,605 shares, valued at approximately $11.4 million.
• Insider transactions were notable with CFO Prashanth Mahendra-Rajah selling 2,750 shares and CEO Dara Khosrowshahi selling 150,000 shares, reflecting a decline in their ownership stakes of 10.88% and 13.24%, respectively.
• Wall Street analysts have a generally positive outlook for Uber, with significant upgrades to price targets; Bank of America raised its target from $97.00 to $115.00 and maintained a "buy" rating.

Talbot Financial LLC grew its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,605 shares of the ride-sharing company's stock after acquiring an additional 18,407 shares during the quarter. Talbot Financial LLC's holdings in Uber Technologies were worth $11,439,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the second quarter worth approximately $28,000. Noble Wealth Management PBC purchased a new position in shares of Uber Technologies during the first quarter worth approximately $27,000. Kozak & Associates Inc. raised its stake in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares in the last quarter. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies during the first quarter worth approximately $27,000. Finally, GPS Wealth Strategies Group LLC raised its stake 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 worth $29,000 after acquiring an additional 299 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares in the company, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 604,571 shares of company stock valued at $58,920,741 over the last quarter. 3.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on UBER shares. Bank of America lifted their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Barclays restated an "overweight" rating and issued a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $104.03.

Uber Technologies Stock Performance

NYSE:UBER opened at $96.53 on Friday. The stock has a market cap of $201.30 billion, a P/E ratio of 16.44 and a beta of 1.48. The firm's fifty day simple moving average is $93.93 and its 200 day simple moving average is $87.14. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. 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 released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share. As a group, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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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