Strait & Sound Wealth Management LLC Decreases Position in Uber Technologies, Inc. $UBER

Strait & Sound Wealth Management LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 16.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,073 shares of the ride-sharing company’s stock after selling 791 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Uber Technologies were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in UBER. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies in the first quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its position in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the period. Pacer Advisors Inc. boosted its holdings in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Uber Technologies by 105.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after buying an additional 2,807,967 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UBER has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Uber Technologies from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Friday. UBS Group raised their target price on Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Bank of America raised their target price on Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Uber Technologies in a research report on Tuesday. Finally, Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.91.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $94.09 on Friday. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The business has a 50-day moving average of $95.42 and a two-hundred day moving average of $89.56. The stock has a market capitalization of $196.21 billion, a P/E ratio of 16.03 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last announced its quarterly 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. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tony West sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 604,946 shares of company stock worth $58,950,116 over the last ninety days. 3.84% of the stock is owned by insiders.

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.