TIAA Trust National Association Lowers Stake in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• TIAA Trust National Association has reduced its stake in Uber Technologies by 28.1% during the first quarter, owning 185,048 shares valued at approximately $13.48 million after selling 72,317 shares.
• Other institutional investors have made significant changes to their positions, with some like Pettyjohn Wood & White Inc. increasing their stake in Uber by 96.0% during the same quarter.
• Uber Technologies reported an earnings per share of $0.83, exceeding the consensus estimate, and experienced a revenue growth of 13.8% compared to the previous year.

TIAA Trust National Association lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,048 shares of the ride-sharing company's stock after selling 72,317 shares during the quarter. TIAA Trust National Association's holdings in Uber Technologies were worth $13,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Strategic Family Wealth Counselors L.L.C. raised its position in shares of Uber Technologies by 1.0% during the 1st quarter. Strategic Family Wealth Counselors L.L.C. now owns 126,086 shares of the ride-sharing company's stock valued at $9,187,000 after buying an additional 1,306 shares in the last quarter. Signature Wealth Management Partners LLC raised its position in shares of Uber Technologies by 15.1% during the 1st quarter. Signature Wealth Management Partners LLC now owns 5,710 shares of the ride-sharing company's stock valued at $416,000 after buying an additional 750 shares in the last quarter. Pettyjohn Wood & White Inc. raised its position in Uber Technologies by 96.0% in the 1st quarter. Pettyjohn Wood & White Inc. now owns 21,140 shares of the ride-sharing company's stock worth $1,540,000 after purchasing an additional 10,355 shares during the period. UNIVEST FINANCIAL Corp purchased a new position in Uber Technologies in the 1st quarter worth $3,301,000. Finally, Baker Avenue Asset Management LP raised its position in Uber Technologies by 1.8% in the 1st quarter. Baker Avenue Asset Management LP now owns 242,390 shares of the ride-sharing company's stock worth $17,661,000 after purchasing an additional 4,218 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 0.9%

Shares of NYSE UBER opened at $86.98 on Friday. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71. The stock has a market cap of $181.89 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43. The firm has a 50-day moving average of $89.12 and a 200 day moving average of $80.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) earnings per share. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on UBER shares. UBS Group lifted their target price on shares of Uber Technologies from $107.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wedbush reiterated a "neutral" rating and issued a $85.00 target price on shares of Uber Technologies in a research report on Friday. TD Cowen decreased their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Roth Capital lifted their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and an average target price of $100.71.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider directly owned 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock valued at $3,496,071 over the last ninety days. Corporate insiders own 3.84% of the company's stock.

Uber Technologies 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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