Eagle Bay Advisors LLC Decreases Position in Uber Technologies, Inc. $UBER

Key Points

• Eagle Bay Advisors LLC reduced its holdings in Uber Technologies by 7.7%, owning 43,899 shares valued at approximately $4.1 million, making Uber the 8th largest position in its portfolio.
• Uber's recent earnings report showed an EPS of $0.63 and quarterly revenue of $12.65 billion, surpassing expectations and indicating an 18.2% increase year-over-year.
• Analysts have raised their price targets for Uber with KeyCorp and JPMorgan both increasing theirs to $110, reflecting a consensus rating of "Moderate Buy" with an average target price of $103.06.

Eagle Bay Advisors LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,899 shares of the ride-sharing company's stock after selling 3,667 shares during the period. Uber Technologies accounts for 3.4% of Eagle Bay Advisors LLC's portfolio, making the stock its 8th biggest position. Eagle Bay Advisors LLC's holdings in Uber Technologies were worth $4,096,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $27,000. Kozak & Associates Inc. lifted its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC purchased a new position in Uber Technologies during the first quarter valued at $27,000. Vision Financial Markets LLC bought a new stake in shares of Uber Technologies during the 1st quarter valued at $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

UBER stock traded up $3.98 during trading on Friday, reaching $98.68. The stock had a trading volume of 38,703,086 shares, compared to its average volume of 16,364,744. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $99.70. The stock's 50 day moving average is $92.63 and its two-hundred day moving average is $85.38. 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 firm has a market cap of $205.79 billion, a PE ratio of 16.81, a PEG ratio of 1.13 and a beta of 1.43.

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

Insider Buying and Selling

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony West sold 3,125 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the completion of the transaction, the insider directly owned 170,269 shares in the company, valued at $16,175,555. This trade represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,571 shares of company stock valued at $33,810,741 in the last 90 days. Insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UBER. Piper Sandler boosted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Needham & Company LLC boosted their target price 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. Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Canaccord Genuity Group restated a "hold" rating and set a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Finally, Roth Capital boosted their target price on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.06.

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.