Wilmington Savings Fund Society FSB Cuts Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Uber Technologies by 4.9% during the second quarter, owning 69,977 shares valued at approximately $6.53 million.
• Several investors increased their holdings in Uber, with RFG Advisory LLC raising its stake by 37.6%, bringing its total to 20,714 shares, and other firms also showing similar growth.
• Research analysts remain optimistic about Uber, with upgrades to price targets, including Needham & Company LLC raising it from $100 to $109, reflecting a consensus rating of "Moderate Buy."

Wilmington Savings Fund Society FSB lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,977 shares of the ride-sharing company's stock after selling 3,600 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Uber Technologies were worth $6,529,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. RFG Advisory LLC raised its stake in shares of Uber Technologies by 37.6% during the second quarter. RFG Advisory LLC now owns 20,714 shares of the ride-sharing company's stock worth $1,933,000 after purchasing an additional 5,662 shares during the last quarter. Perfromance Wealth Partners LLC grew its holdings in Uber Technologies by 9.6% during the second quarter. Perfromance Wealth Partners LLC now owns 8,462 shares of the ride-sharing company's stock worth $790,000 after acquiring an additional 740 shares during the period. Moran Wealth Management LLC grew its holdings in Uber Technologies by 22.3% during the second quarter. Moran Wealth Management LLC now owns 40,823 shares of the ride-sharing company's stock worth $3,809,000 after acquiring an additional 7,454 shares during the period. Acorn Financial Advisory Services Inc. ADV acquired a new position in Uber Technologies during the second quarter worth $250,000. Finally, Elefante Mark B grew its holdings in Uber Technologies by 105.4% during the second quarter. Elefante Mark B now owns 12,695 shares of the ride-sharing company's stock worth $1,184,000 after acquiring an additional 6,515 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Buying and Selling

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,821 shares of company stock worth $58,659,491 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Needham & Company LLC upped their price objective on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Mizuho assumed coverage on Uber Technologies in a report on Monday, September 29th. They set an "outperform" rating and a $130.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Uber Technologies in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.06.

Uber Technologies Trading Up 0.1%

Uber Technologies stock opened at $94.21 on Wednesday. The stock has a 50-day moving average price of $95.07 and a 200 day moving average price of $88.19. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The stock has a market cap of $196.47 billion, a PE ratio of 16.05 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 (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, beating analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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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