Drive Wealth Management LLC Sells 235 Shares of Uber Technologies, Inc. $UBER

Drive Wealth Management LLC decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,986 shares of the ride-sharing company’s stock after selling 235 shares during the period. Drive Wealth Management LLC’s holdings in Uber Technologies were worth $465,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Hilltop National Bank purchased a new stake in shares of Uber Technologies in the second quarter valued at about $96,000. Geneos Wealth Management Inc. increased its stake in Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock valued at $7,483,000 after buying an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Uber Technologies by 42.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock worth $70,822,000 after buying an additional 226,960 shares in the last quarter. Kapstone Financial Advisors LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $415,000. Finally, Annex Advisory Services LLC grew its holdings in shares of Uber Technologies by 35.6% in the second quarter. Annex Advisory Services LLC now owns 552,662 shares of the ride-sharing company’s stock valued at $51,563,000 after acquiring an additional 145,071 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 1.5%

UBER opened at $93.73 on Tuesday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a market cap of $195.46 billion, a PE ratio of 15.97 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. The company has a 50 day moving average of $95.28 and a 200 day moving average of $88.93.

Uber Technologies (NYSE:UBER) last issued 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. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies 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 completion of the transaction, the senior vice president owned 416,222 shares of the company’s stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 604,946 shares of company stock worth $58,950,116 over the last quarter. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Capital lifted their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Wells Fargo & Company decreased their target price on Uber Technologies from $127.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Cowen reissued a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. UBS Group raised their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Uber Technologies in a research note on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.68.

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.