Uber Technologies, Inc. $UBER Shares Sold by Lazari Capital Management Inc.

Key Points

• Lazari Capital Management Inc. reduced its shareholding in Uber Technologies by 9.7% in Q2, owning approximately $17 million worth of the stock post-sale.
• Insider Jill Hazelbaker sold 31,250 shares at an average price of $96.42, reducing her ownership by 26.53%.
• UBER's recent earnings report revealed a quarterly revenue of $12.65 billion, exceeding analyst estimates and marking an 18.2% year-over-year increase.

Lazari Capital Management Inc. lowered its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 9.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 182,968 shares of the ride-sharing company's stock after selling 19,629 shares during the quarter. Uber Technologies comprises 6.4% of Lazari Capital Management Inc.'s holdings, making the stock its 3rd biggest position. Lazari Capital Management Inc.'s holdings in Uber Technologies were worth $17,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of UBER. Kozak & Associates Inc. increased its position in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the first quarter worth $27,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies in the first quarter worth $27,000. West Oak Capital LLC bought a new position in shares of Uber Technologies in the second quarter worth $28,000. Finally, GPS Wealth Strategies Group LLC increased its position in shares of Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies 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 sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. The trade was 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 604,571 shares of company stock valued at $58,920,741. 3.70% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

Shares of UBER stock opened at $98.37 on Monday. The business's 50-day moving average price is $93.29 and its 200-day moving average price is $86.36. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The firm has a market capitalization of $205.14 billion, a price-to-earnings ratio of 16.76 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 (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS 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 firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

UBER has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Cowen restated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Needham & Company LLC raised their price objective on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Barclays reaffirmed an "overweight" rating and issued a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $103.30.

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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