Venator Management LLC Reduces Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Venator Management LLC reduced its stake in Uber Technologies, Inc. by 3.0%, resulting in ownership of 404,200 shares, which represents 8.8% of its portfolio valued at approximately $29.45 million.
• Corporate insiders, including CFO Prashanth Mahendra-Rajah and SVP Nikki Krishnamurthy, sold shares, indicating a decrease in their positions by 11.12% and 2.70%, respectively.
• Uber Technologies has received positive analyst ratings, with a consensus price target of $102.82 and recent price objectives raised by multiple research firms, reflecting a strong market outlook.

Venator Management LLC lowered its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,200 shares of the ride-sharing company's stock after selling 12,650 shares during the period. Uber Technologies accounts for 8.8% of Venator Management LLC's holdings, making the stock its 6th largest holding. Venator Management LLC's holdings in Uber Technologies were worth $29,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of UBER. Noble Wealth Management PBC bought a new stake in Uber Technologies in the first quarter valued at $27,000. Kozak & Associates Inc. boosted its stake in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies during the 1st quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co grew its holdings in shares of Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% 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, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Up 2.6%

UBER stock traded up $2.4720 during trading on Friday, hitting $96.7020. 15,568,337 shares of the company's stock were exchanged, compared to its average volume of 18,899,732. The stock has a market capitalization of $201.66 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.08 and a beta of 1.43. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The business has a 50-day moving average price of $91.08 and a two-hundred day moving average price of $82.81. 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 data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on UBER. Stifel Nicolaus raised their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Wells Fargo & Company reduced their price target on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Cowen reiterated a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. One equities research 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 company. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $102.82.

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.