PFG Investments LLC Lowers Position in Uber Technologies, Inc. $UBER

PFG Investments LLC lessened its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 41,432 shares of the ride-sharing company’s stock after selling 803 shares during the quarter. PFG Investments LLC’s holdings in Uber Technologies were worth $3,866,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of UBER. Nova Wealth Management Inc. raised its position in Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Uber Technologies by 39.8% during the second quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 127 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after purchasing an additional 133 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock worth $798,000 after purchasing an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 604,571 shares of company stock valued at $58,920,741 over the last quarter. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Roth Capital lifted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Finally, Sanford C. Bernstein lifted their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $104.09.

Uber Technologies Price Performance

UBER stock opened at $97.94 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $93.58 and a 200-day simple moving average of $86.64. The firm has a market capitalization of $204.25 billion, a PE ratio of 16.68 and a beta of 1.43. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.