ZWJ Investment Counsel Inc. Has $32.06 Million Stake in Uber Technologies, Inc. $UBER

Key Points

• ZWJ Investment Counsel Inc. increased its stake in Uber Technologies by 6.8%, owning 343,662 shares valued at approximately $32.06 million as of the end of the second quarter.
• Analysts are bullish on Uber, with multiple firms raising their price targets, including Bank of America and UBS Group, indicating a strong sentiment toward the stock.
• Insider selling occurred, with CEO Dara Khosrowshahi selling 150,000 shares for $15.07 million, representing a 13.24% decrease in his ownership stake.

ZWJ Investment Counsel Inc. boosted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 343,662 shares of the ride-sharing company's stock after buying an additional 22,019 shares during the quarter. ZWJ Investment Counsel Inc.'s holdings in Uber Technologies were worth $32,064,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Fortis Capital Advisors LLC increased its position in Uber Technologies by 47.5% during the second quarter. Fortis Capital Advisors LLC now owns 12,710 shares of the ride-sharing company's stock worth $1,186,000 after buying an additional 4,091 shares during the last quarter. Fairvoy Private Wealth LLC increased its position in Uber Technologies by 2.4% during the second quarter. Fairvoy Private Wealth LLC now owns 64,737 shares of the ride-sharing company's stock worth $6,040,000 after buying an additional 1,521 shares during the last quarter. Ascent Group LLC increased its position in Uber Technologies by 4.8% during the second quarter. Ascent Group LLC now owns 29,377 shares of the ride-sharing company's stock worth $2,741,000 after buying an additional 1,348 shares during the last quarter. Consilium Wealth Advisory LLC increased its position in Uber Technologies by 58.4% during the second quarter. Consilium Wealth Advisory LLC now owns 11,024 shares of the ride-sharing company's stock worth $1,029,000 after buying an additional 4,063 shares during the last quarter. Finally, Whelan Financial increased its position in Uber Technologies by 39.4% during the second quarter. Whelan Financial now owns 7,435 shares of the ride-sharing company's stock worth $694,000 after buying an additional 2,100 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on UBER shares. Raymond James Financial raised their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. BMO Capital Markets raised their price target on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wedbush lowered their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Bank of America raised their price target on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, UBS Group raised their price target on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two research 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.03.

Uber Technologies Stock Down 0.1%

UBER stock opened at $96.53 on Friday. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a market cap of $201.30 billion, a PE ratio of 16.44 and a beta of 1.48. The business's 50-day simple moving average is $93.93 and its 200 day simple moving average is $87.04. The company has a quick ratio of 1.11, a current 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 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 for the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the business earned $0.47 earnings per share. The firm's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies 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 sale, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the transaction, the chief executive officer owned 982,544 shares of the company's stock, valued at approximately $98,726,021.12. This represents a 13.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 604,571 shares of company stock valued at $58,920,741 over the last quarter. Company insiders own 3.84% of the company's stock.

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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