Uber Technologies, Inc. $UBER Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Uber Technologies by 4.1%, selling 10,090 shares in the second quarter, resulting in a total ownership of 234,630 shares valued at approximately $21.89 million.
• Analysts have raised their price targets for Uber Technologies, with Morgan Stanley setting a new target of $115.00 and KeyCorp increasing their target to $110.00, reflecting a strong confidence in the company's stock.
• In recent insiders' trading, Tony West sold 100,000 shares for around $10 million, indicating a substantial decrease in his ownership, while insiders collectively sold over 600,000 shares in the last three months.

State of Alaska Department of Revenue lessened its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,630 shares of the ride-sharing company's stock after selling 10,090 shares during the quarter. State of Alaska Department of Revenue's holdings in Uber Technologies were worth $21,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UBER. Nova Wealth Management Inc. raised its stake in Uber Technologies by 41.0% during the first 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 during the period. Atticus Wealth Management LLC grew its holdings in shares of Uber Technologies by 39.8% during 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 during the last quarter. Grove Bank & Trust raised its position in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after purchasing an additional 133 shares during the period. Forum Financial Management LP lifted its holdings in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after purchasing an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its position in Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UBER has been the topic of several analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. KeyCorp increased their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Stifel Nicolaus raised their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada boosted their price objective on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.30.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $98.37 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $205.14 billion, a price-to-earnings ratio of 16.76 and a beta of 1.43. The stock's 50 day moving average price is $93.29 and its 200 day moving average price is $86.14. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $0.47 earnings per share. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction that occurred on 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 transaction, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is owned by insiders.

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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