Uber Technologies, Inc. $UBER Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has reduced its stake in Uber Technologies by 75.7%, ending up with only 1,162 shares after selling 3,616 during the first quarter.
• Multiple institutional investors, including Clark Capital Management Group and UMB Bank, have substantially increased their holdings in Uber, indicating a shift in investor sentiment towards the ride-sharing company.
• Analysts have issued mixed ratings on Uber, with price targets ranging from $84.00 to $119.00, reflecting varying levels of confidence in the company's future performance.

AlphaQuest LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 75.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,162 shares of the ride-sharing company's stock after selling 3,616 shares during the quarter. AlphaQuest LLC's holdings in Uber Technologies were worth $85,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clark Capital Management Group Inc. grew its position in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after acquiring an additional 399,008 shares during the period. UMB Bank n.a. grew its position in Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after acquiring an additional 3,073 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Uber Technologies during the 4th quarter worth about $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Uber Technologies during the 1st quarter worth about $943,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,696 shares of company stock valued at $4,632,774. Corporate insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Sanford C. Bernstein raised their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Canaccord Genuity Group reissued a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. UBS Group raised their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial raised their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $102.82.

Uber Technologies Stock Down 1.0%

Shares of NYSE UBER opened at $92.84 on Wednesday. The stock has a market cap of $193.61 billion, a P/E ratio of 15.82, a PEG ratio of 1.08 and a beta of 1.43. 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, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The business's fifty day simple moving average is $92.41 and its 200-day simple moving average is $83.80.

Uber Technologies (NYSE:UBER - Get Free Report) last announced 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. The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Uber Technologies Company 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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