Uber Technologies, Inc. $UBER Shares Sold by Octahedron Capital Management L.P.

Key Points

• Octahedron Capital Management cut its Uber stake by 40.5% in Q2, selling 75,000 shares and retaining 110,000 shares worth about $10.26 million, making Uber its 6th largest position.
• Company insiders have been net sellers: CEO Dara Khosrowshahi sold 150,000 shares for roughly $15.07 million and the CFO sold 5,500 shares, with insiders offloading 602,000 shares (~$58.7M) in the last 90 days while owning 3.7% of the stock.
• Uber posted a strong quarterly beat, reporting $3.11 EPS vs. $0.67 expected and $13.47 billion in revenue, and analysts largely maintain Buy ratings with a consensus target near $108.26.

Octahedron Capital Management L.P. cut its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 40.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the ride-sharing company's stock after selling 75,000 shares during the period. Uber Technologies comprises about 7.7% of Octahedron Capital Management L.P.'s holdings, making the stock its 6th largest position. Octahedron Capital Management L.P.'s holdings in Uber Technologies were worth $10,263,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of UBER. Nova Wealth Management Inc. raised its position in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Atticus Wealth Management LLC boosted its holdings in Uber Technologies by 39.8% in the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock valued at $42,000 after purchasing an additional 127 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in Uber Technologies by 4.4% in the second quarter. Sound View Wealth Advisors Group LLC now owns 3,051 shares of the ride-sharing company's stock valued at $285,000 after purchasing an additional 129 shares during the last quarter. Clearstead Trust LLC raised its holdings in Uber Technologies by 0.5% during the second quarter. Clearstead Trust LLC now owns 25,981 shares of the ride-sharing company's stock worth $2,424,000 after purchasing an additional 130 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its position in shares of Uber Technologies by 0.7% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 18,883 shares of the ride-sharing company's stock worth $1,762,000 after buying an additional 132 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the transaction, the chief executive officer owned 982,544 shares in the company, valued at approximately $98,726,021.12. This represents a 13.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm's stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares of the company's stock, valued at $1,919,355.30. This trade represents a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 602,000 shares of company stock valued at $58,695,660 in the last ninety days. Company insiders own 3.70% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER stock opened at $90.92 on Wednesday. The stock's 50-day moving average price is $95.37 and its 200 day moving average price is $91.94. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $188.92 billion, a PE ratio of 11.69 and a beta of 1.46. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion during the quarter, compared to analysts' expectations of $13.25 billion. During the same period last year, the firm earned $1.20 EPS. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on UBER shares. Raymond James Financial increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 target price on Uber Technologies in a research report on Wednesday, November 5th. Needham & Company LLC reissued a "buy" rating and issued a $109.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Finally, Guggenheim dropped their price target on Uber Technologies from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $108.26.

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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