Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Virtu Financial LLC

Key Points

• Virtu Financial LLC has reduced its stake in Uber Technologies by 34.8%, selling 23,172 shares and holding 43,501 shares worth approximately $3.17 million after the transaction.
• Analysts have recently upgraded their target prices for Uber, with Bank of America raising its target from $97 to $115, and Raymond James increasing it from $100 to $105, indicating a bullish sentiment among financial analysts.
• Uber Technologies reported a quarterly earnings increase with earnings per share of $0.63, surpassing expectations, while revenue for the quarter reached $12.65 billion, up 18.2% year-over-year.

Virtu Financial LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 34.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,501 shares of the ride-sharing company's stock after selling 23,172 shares during the period. Virtu Financial LLC's holdings in Uber Technologies were worth $3,169,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Rovida Investment Management Ltd increased its position in Uber Technologies by 36.4% during the first quarter. Rovida Investment Management Ltd now owns 150,000 shares of the ride-sharing company's stock worth $10,935,000 after buying an additional 40,000 shares during the period. Mizuho Markets Americas LLC increased its position in Uber Technologies by 280.2% during the first quarter. Mizuho Markets Americas LLC now owns 421,000 shares of the ride-sharing company's stock worth $30,674,000 after buying an additional 310,271 shares during the period. Pandora Wealth Inc. acquired a new position in Uber Technologies during the first quarter worth approximately $197,000. Fiduciary Family Office LLC acquired a new position in Uber Technologies during the first quarter worth approximately $872,000. Finally, Manhattan West Asset Management LLC increased its holdings in shares of Uber Technologies by 97.2% in the first quarter. Manhattan West Asset Management LLC now owns 50,654 shares of the ride-sharing company's stock valued at $3,691,000 after purchasing an additional 24,971 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of recent research reports. Raymond James Financial boosted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday. Bank of America boosted their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Piper Sandler boosted their target price on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group boosted their target price on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction on 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 sale, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on 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 owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Down 3.3%

Shares of NYSE:UBER opened at $89.64 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The stock's fifty day simple moving average is $89.44 and its 200-day simple moving average is $81.16. The company has a market capitalization of $187.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.03 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The business's revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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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