Spire Wealth Management Cuts Stake in Uber Technologies, Inc. $UBER

Spire Wealth Management lowered its position in Uber Technologies, Inc. (NYSE:UBER) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,634 shares of the ride-sharing company’s stock after selling 49,680 shares during the quarter. Spire Wealth Management’s holdings in Uber Technologies were worth $13,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Bison Wealth LLC boosted its stake in shares of Uber Technologies by 20.3% during the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after purchasing an additional 641 shares during the period. Ameritas Advisory Services LLC boosted its stake in shares of Uber Technologies by 9.6% during the first quarter. Ameritas Advisory Services LLC now owns 8,679 shares of the ride-sharing company’s stock valued at $632,000 after purchasing an additional 758 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Uber Technologies by 15.8% during the first quarter. Koshinski Asset Management Inc. now owns 8,374 shares of the ride-sharing company’s stock valued at $610,000 after purchasing an additional 1,143 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $95.63 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $199.43 billion, a PE ratio of 16.29 and a beta of 1.48. The business has a 50 day moving average of $95.52 and a 200 day moving average of $90.17. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Bank of America increased their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Tuesday. Guggenheim raised Uber Technologies to a “strong-buy” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a research note on Wednesday. Finally, Barclays restated an “overweight” rating and set a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.18.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the 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 completion of the transaction, the senior vice president owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 604,946 shares of company stock valued at $58,950,116 in the last 90 days. Corporate 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.