Uber Technologies, Inc. $UBER Shares Sold by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly reduced its holdings in Uber Technologies by 74.6% in the second quarter, owning only 2,172 shares after selling 6,396 shares during that timeframe.
• Several hedge funds have increased their stakes in Uber, with GAMMA Investing LLC raising its holdings by 319.6% in the first quarter, indicating ongoing institutional interest in the stock.
• Analysts maintain a positive outlook on Uber, with multiple firms increasing their target prices, leading to a consensus target of $105.68 and an average rating of "Moderate Buy."

Bayforest Capital Ltd reduced its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 74.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,172 shares of the ride-sharing company's stock after selling 6,396 shares during the quarter. Bayforest Capital Ltd's holdings in Uber Technologies were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UBER. Brighton Jones LLC raised its stake in Uber Technologies by 3.4% in the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after buying an additional 6,129 shares in the last quarter. Bison Wealth LLC grew its holdings in Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after buying an additional 641 shares in the last quarter. GAMMA Investing LLC grew its holdings in Uber Technologies by 319.6% in the 1st quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company's stock valued at $1,658,000 after buying an additional 17,330 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Uber Technologies by 44.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company's stock valued at $15,825,000 after buying an additional 66,783 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock worth $58,659,491 over the last ninety days. 3.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on UBER shares. Bank of America upped 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. Cowen restated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. UBS Group upped their target price on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Needham & Company LLC increased their price target on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, KeyCorp increased their price target on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $105.68.

Uber Technologies Price Performance

UBER stock opened at $92.47 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $192.84 billion, a P/E ratio of 15.75 and a beta of 1.48. The business's 50-day moving average is $95.17 and its two-hundred day moving average is $88.37. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping 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 analyst estimates of $12.45 billion. During the same quarter last year, the company earned $0.47 EPS. The business's quarterly revenue was up 18.2% on a year-over-year basis. Analysts anticipate 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.

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