Titan Global Capital Management USA LLC Lowers Holdings in Uber Technologies, Inc. $UBER

Key Points

• Titan Global Capital Management USA LLC reduced its holdings in Uber Technologies by 24% during the first quarter, now owning approximately 259,476 shares valued at around $18.9 million.
• Multiple research firms have set new price targets for Uber, with a majority rating the stock as a "Buy" and a consensus price target of approximately $102.82.
• In its latest quarter, Uber reported earnings of $0.63 per share and $12.65 billion in revenue, exceeding analysts' expectations, while showing an 18.2% increase in revenue year-over-year.

Titan Global Capital Management USA LLC trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 259,476 shares of the ride-sharing company's stock after selling 81,935 shares during the quarter. Uber Technologies accounts for approximately 3.8% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 12th biggest holding. Titan Global Capital Management USA LLC's holdings in Uber Technologies were worth $18,905,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in Uber Technologies in the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the fourth quarter valued at $27,000. Kozak & Associates Inc. boosted its holdings in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in Uber Technologies in the first quarter valued at $27,000. Finally, Vision Financial Markets LLC purchased a new stake in Uber Technologies in the first quarter valued at $27,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on UBER. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Loop Capital reissued a "buy" rating and set a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Piper Sandler increased their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group increased their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Trading Up 0.5%

Shares of Uber Technologies stock opened at $94.21 on Friday. The firm has a market capitalization of $196.47 billion, a PE ratio of 16.05, a P/E/G ratio of 1.08 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The firm's 50-day moving average price is $90.82 and its 200 day moving average price is $82.62. 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 issued its quarterly earnings results 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. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 sale, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

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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