Gulf International Bank UK Ltd Sells 38,215 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Uber Technologies by 25.7%, selling 38,215 shares in the first quarter, leaving it with 110,445 shares valued at approximately $8.05 million.
• Several analysts have increased their price targets for Uber, with a consensus average target now at $102.82, indicating optimism as 29 analysts rated it a buy.
• Uber reported a quarterly earnings per share (EPS) of $0.63, beating expectations, with revenues rising 18.2% year-over-year to $12.65 billion.

Gulf International Bank UK Ltd trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 25.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,445 shares of the ride-sharing company's stock after selling 38,215 shares during the period. Gulf International Bank UK Ltd's holdings in Uber Technologies were worth $8,047,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of UBER. Transce3nd LLC acquired a new position in Uber Technologies during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter worth about $27,000. Kozak & Associates Inc. grew its holdings in 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 during the period. Noble Wealth Management PBC purchased a new position in Uber Technologies in the 1st quarter worth about $27,000. Finally, Vision Financial Markets LLC purchased a new position in Uber Technologies in the 1st quarter worth about $27,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Susquehanna lifted their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Finally, Cowen reissued a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Uber Technologies Stock Performance

NYSE UBER traded down $0.76 during trading on Wednesday, hitting $90.97. The company's stock had a trading volume of 16,849,796 shares, compared to its average volume of 18,980,150. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $89.92 and a 200 day moving average price of $81.54. The firm has a market cap of $189.71 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion for 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 revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.