Twin Capital Management Inc. Lowers Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Twin Capital Management Inc. trimmed its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 36.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,625 shares of the ride-sharing company's stock after selling 16,856 shares during the quarter. Twin Capital Management Inc.'s holdings in Uber Technologies were worth $2,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Uber Technologies by 17.4% in the first quarter. IFP Advisors Inc now owns 40,486 shares of the ride-sharing company's stock worth $2,950,000 after buying an additional 6,009 shares in the last quarter. Morse Asset Management Inc raised its stake in Uber Technologies by 18,120.0% in the first quarter. Morse Asset Management Inc now owns 9,110 shares of the ride-sharing company's stock valued at $664,000 after purchasing an additional 9,060 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake 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 valued at $34,000 after purchasing an additional 138 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in Uber Technologies in the first quarter valued at approximately $246,000. Finally, Covenant Asset Management LLC increased its holdings in shares of Uber Technologies by 0.8% in the 1st quarter. Covenant Asset Management LLC now owns 54,297 shares of the ride-sharing company's stock worth $3,956,000 after buying an additional 429 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on UBER shares. TD Cowen lowered their price objective 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. KeyCorp raised their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Needham & Company LLC set a $109.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Twelve research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $97.63.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The stock was 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 directly owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,384 shares of company stock valued at $3,496,071. 3.84% of the stock is owned by insiders.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $90.57 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $189.40 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.15 and a beta of 1.40. The business has a fifty day simple moving average of $89.22 and a two-hundred day simple moving average of $78.71. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.72.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly 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 firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. Uber Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) EPS. On average, equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.