Uber Technologies, Inc. $UBER Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC has reduced its stake in Uber Technologies by 14.1%, now holding approximately 1.43 million shares valued at $133 million.
• Uber reported a net margin of 26.68% and earnings of $0.63 per share for the last quarter, exceeding expectations.
• Insider sales included Tony West selling 100,000 shares for over $10 million, representing a 36.82% decrease in his holdings.

DAVENPORT & Co LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,432,406 shares of the ride-sharing company's stock after selling 234,416 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.07% of Uber Technologies worth $133,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its position in Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of 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 acquiring an additional 6,129 shares during the period. Bison Wealth LLC raised its position 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 purchasing an additional 641 shares during the last quarter. Vest Financial LLC boosted its stake in Uber Technologies by 73.5% during the 1st quarter. Vest Financial LLC now owns 24,283 shares of the ride-sharing company's stock worth $1,769,000 after purchasing an additional 10,286 shares during the period. Finally, Procyon Advisors LLC grew its position in Uber Technologies by 32.9% during the 1st quarter. Procyon Advisors LLC now owns 9,539 shares of the ride-sharing company's stock worth $695,000 after purchasing an additional 2,362 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Down 0.1%

UBER stock opened at $96.53 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company's 50-day moving average price is $93.93 and its 200 day moving average price is $87.23. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The company has a market cap of $201.30 billion, a P/E ratio of 16.44 and a beta of 1.48.

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

Insider Activity at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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 owned 22,528 shares of the company's stock, valued at $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 sold 601,821 shares of company stock valued at $58,659,491 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on UBER. UBS Group upped their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $104.03.

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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