Washington Trust Advisors Inc. Has $28.46 Million Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Washington Trust Advisors Inc. reduced its holdings in Uber Technologies by 3.3%, now owning approximately 304,996 shares valued at about $28.46 million.
• Insiders, including VP Jill Hazelbaker, significantly sold shares recently, with a total of 604,946 shares sold in the past ninety days worth over $58.95 million.
• Analysts have upgraded Uber's stock price targets, with Bank of America raising its target from $97.00 to $115.00, reflecting a general consensus of a "Moderate Buy" rating among analysts.

Washington Trust Advisors Inc. trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,996 shares of the ride-sharing company's stock after selling 10,437 shares during the quarter. Uber Technologies comprises about 2.3% of Washington Trust Advisors Inc.'s portfolio, making the stock its 14th biggest position. Washington Trust Advisors Inc.'s holdings in Uber Technologies were worth $28,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies in the 1st quarter valued at about $27,000. West Oak Capital LLC acquired a new position in Uber Technologies during the 2nd quarter worth approximately $28,000. Truvestments Capital LLC raised its stake in Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after buying an additional 339 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Uber Technologies during the 2nd quarter worth approximately $30,000. Finally, Ransom Advisory Ltd bought a new stake in Uber Technologies during the 1st quarter worth approximately $31,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm'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 transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 604,946 shares of company stock valued at $58,950,116. Company insiders own 3.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on UBER shares. Bank of America boosted 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 boosted their price objective on Uber Technologies from $116.00 to $124.00 and gave the stock a "buy" rating in a report on Friday. Sanford C. Bernstein reissued an "outperform" rating and set a $110.00 price objective on shares of Uber Technologies in a report on Tuesday. Mizuho started coverage on Uber Technologies in a research report on Monday, September 29th. They set an "outperform" rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $105.91.

Uber Technologies Price Performance

UBER traded up $0.45 during trading on Friday, reaching $95.06. The stock had a trading volume of 1,598,887 shares, compared to its average volume of 20,683,891. The stock has a market cap of $198.25 billion, a PE ratio of 16.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The business has a 50-day moving average of $95.40 and a 200-day moving average of $89.18.

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 (EPS) for the quarter, beating 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 analysts' expectations of $12.45 billion. During the same period last year, the firm earned $0.47 earnings per share. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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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