Uber Technologies, Inc. $UBER Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management significantly reduced its position in Uber Technologies, Inc. by 53.1%, selling over 14 million shares and now owning approximately 0.59% of the company.
• Uber Technologies reported an 18.2% year-over-year increase in revenue, reaching $12.65 billion, and exceeded earnings expectations with $0.63 EPS.
• Various brokerages have updated their price targets for Uber, with estimates ranging up to $117.00, indicating a generally positive outlook from analysts.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 53.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,420,690 shares of the ride-sharing company's stock after selling 14,049,812 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.59% of Uber Technologies worth $904,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wilson & Boucher Capital Management LLC acquired a new stake in shares of Uber Technologies during the 1st quarter valued at approximately $230,000. Woodline Partners LP raised its position in shares of Uber Technologies by 3,952.9% during the 1st quarter. Woodline Partners LP now owns 581,435 shares of the ride-sharing company's stock worth $42,363,000 after purchasing an additional 567,089 shares during the last quarter. Empowered Funds LLC raised its position in shares of Uber Technologies by 22.6% during the 1st quarter. Empowered Funds LLC now owns 70,979 shares of the ride-sharing company's stock worth $5,172,000 after purchasing an additional 13,102 shares during the last quarter. Peloton Wealth Strategists acquired a new position in shares of Uber Technologies during the 1st quarter worth approximately $2,318,000. Finally, MBB Public Markets I LLC acquired a new position in shares of Uber Technologies during the 1st quarter worth approximately $307,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Trading Up 3.5%

UBER stock opened at $94.17 on Tuesday. The company has a market cap of $196.38 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.04 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $92.44 and a 200-day simple moving average of $84.16. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 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 business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the firm posted $0.47 EPS. The business's revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's 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 completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the transaction, the insider directly owned 170,269 shares of the company's stock, valued at approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,696 shares of company stock valued at $4,632,774. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UBER. Susquehanna lifted their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. UBS Group lifted their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Raymond James Financial boosted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

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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