Uber Technologies, Inc. $UBER Shares Sold by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors LLC reduced its stake in Uber Technologies by 11.9%, now holding 149,106 shares valued at approximately $14.41 million.
• Several major hedge funds, including Vanguard Group Inc. and Kingstone Capital Partners Texas LLC, made significant adjustments to their positions in Uber, indicating a growing interest among institutional investors.
• Uber Technologies reported a quarterly revenue of $12.65 billion with an earnings per share of $0.63, exceeding analyst expectations and showing an 18.2% year-over-year growth.

Foster Victor Wealth Advisors LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,106 shares of the ride-sharing company's stock after selling 20,079 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Uber Technologies were worth $14,410,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. acquired a new position in shares of Uber Technologies in the 1st quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC increased its stake in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Northern Trust Corp raised its holdings in Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after buying an additional 720,122 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock valued at $995,801,000 after buying an additional 394,157 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

In related news, insider Tony West sold 3,125 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $93.94, for a total value of $293,562.50. Following the completion of the sale, the insider directly owned 171,558 shares in the company, valued at approximately $16,116,158.52. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $273,405.00. Following the transaction, 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. Over the last three months, insiders sold 354,571 shares of company stock valued at $33,810,741. 3.70% of the stock is owned by company insiders.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $97.78 on Wednesday. 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 one year low of $59.33 and a one year high of $101.99. The business's 50-day moving average price is $92.85 and its two-hundred day moving average price is $85.70. The company has a market capitalization of $203.90 billion, a P/E ratio of 16.66 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the company earned $0.47 EPS. The firm's 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Canaccord Genuity Group reissued a "hold" rating and set a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. KeyCorp increased their target price on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

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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