Udine Wealth Management Inc. Has $2.51 Million Holdings in Uber Technologies, Inc. $UBER

Key Points

• Udine Wealth Management Inc. has reduced its holdings in Uber Technologies, Inc. by 22.4% during the 2nd quarter, now owning approximately $2.51 million in Uber stock.
• Institutional ownership of Uber Technologies accounts for 80.24% of the stock, with major investments from firms like Vanguard and Pershing Square Capital Management.
• Analysts have varied ratings for Uber, with a consensus target price of $104.03, while it recently reported earnings exceeding expectations with a revenue growth of 18.2% year-over-year.

Udine Wealth Management Inc. reduced its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 22.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,887 shares of the ride-sharing company's stock after selling 7,754 shares during the quarter. Uber Technologies makes up approximately 1.5% of Udine Wealth Management Inc.'s holdings, making the stock its 17th largest holding. Udine Wealth Management Inc.'s holdings in Uber Technologies were worth $2,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of UBER. Vanguard Group Inc. lifted its holdings in Uber Technologies by 3.2% during 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 buying an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the 1st quarter worth $2,207,743,000. Kingstone Capital Partners Texas LLC lifted its holdings in Uber Technologies by 334,075.7% during 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 buying an additional 19,967,705 shares in the last quarter. Northern Trust Corp lifted 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Uber Technologies by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after buying an additional 394,157 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on UBER shares. JPMorgan Chase & Co. upped their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Bank of America upped their price objective on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus increased their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Uber Technologies in a research note on Saturday, September 27th. Finally, Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two analysts have 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, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies Price Performance

UBER stock opened at $93.52 on Friday. The stock has a 50-day moving average price of $94.86 and a two-hundred day moving average price of $87.91. The stock has a market cap of $195.03 billion, a PE ratio of 15.93 and a beta of 1.48. 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, Inc. has a 1 year low of $59.33 and a 1 year 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. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tony West sold 100,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction that occurred 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 sale, the insider 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 disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 in the last quarter. Company insiders own 3.84% of the company's stock.

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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