Uber Technologies, Inc. $UBER Holdings Trimmed by Kingswood Wealth Advisors LLC

Key Points

• Kingswood Wealth Advisors LLC reduced its holdings in Uber Technologies by 53.0% during the second quarter, leaving them with 20,595 shares valued at approximately $1.92 million.
• Analysts have a consensus rating of "Moderate Buy" for Uber, with an average price target of $104.03, following multiple upgrades from firms like Needham & Company LLC and Roth Capital.
• Uber's stock has seen a 2.2% decline, trading at $97.87, while the company reported a rise in revenue of 18.2% year-over-year, reaching $12.65 billion for the last quarter.

Kingswood Wealth Advisors LLC trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 53.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,595 shares of the ride-sharing company's stock after selling 23,198 shares during the period. Kingswood Wealth Advisors LLC's holdings in Uber Technologies were worth $1,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after acquiring an additional 3,073 shares in the last quarter. Hilltop National Bank purchased a new position in shares of Uber Technologies during the 2nd quarter valued at $96,000. Geneos Wealth Management Inc. grew its holdings in shares of Uber Technologies by 805.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after acquiring an additional 91,362 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Uber Technologies by 42.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock valued at $70,822,000 after acquiring an additional 226,960 shares in the last quarter. Finally, Kapstone Financial Advisors LLC purchased a new position in shares of Uber Technologies during the 2nd quarter valued at $415,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Needham & Company LLC boosted their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Roth Capital boosted their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. KeyCorp upped their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Uber Technologies in a report on Saturday, September 27th. Finally, Mizuho began coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an "outperform" rating and a $130.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $104.03.

Uber Technologies Stock Down 2.2%

Uber Technologies stock opened at $97.87 on Wednesday. The firm has a market cap of $204.10 billion, a price-to-earnings ratio of 16.67 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The firm has a fifty day moving average price of $94.33 and a two-hundred day moving average price of $87.47.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during 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%. The business's revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer directly owned 22,528 shares of the company's stock, valued at $2,239,733.76. This represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock valued at $58,659,491 in the last 90 days. 3.70% 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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