Blueshift Asset Management LLC Cuts Stock Holdings in Uber Technologies, Inc. $UBER

Blueshift Asset Management LLC lowered its stake in Uber Technologies, Inc. (NYSE:UBER) by 67.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,522 shares of the ride-sharing company’s stock after selling 9,456 shares during the quarter. Blueshift Asset Management LLC’s holdings in Uber Technologies were worth $422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. West Oak Capital LLC purchased a new stake in shares of Uber Technologies in the second quarter worth about $28,000. Trust Co. of Toledo NA OH bought a new stake in Uber Technologies in the 2nd quarter worth approximately $30,000. Truvestments Capital LLC raised its holdings in shares of Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 339 shares in the last quarter. REAP Financial Group LLC boosted its position in shares of Uber Technologies by 158.2% during the 2nd quarter. REAP Financial Group LLC now owns 408 shares of the ride-sharing company’s stock valued at $38,000 after acquiring an additional 250 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of Uber Technologies in the first quarter valued at $31,000. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 3.5%

Shares of NYSE:UBER opened at $90.61 on Thursday. The firm has a market capitalization of $188.28 billion, a PE ratio of 11.65 and a beta of 1.19. The business has a 50 day simple moving average of $93.07 and a two-hundred day simple moving average of $91.83. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, insider Tony West sold 3,125 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $92.10, for a total transaction of $287,812.50. Following the completion of the sale, the insider directly owned 174,135 shares of the company’s stock, valued at approximately $16,037,833.50. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at $1,919,355.30. This represents a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 567,625 shares of company stock valued at $55,385,660. 3.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UBER. Piper Sandler set a $107.00 price target on shares of Uber Technologies in a research note on Wednesday, November 5th. Arete Research set a $125.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a research report on Wednesday. TD Cowen increased their price target on shares of Uber Technologies from $108.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus set a $122.00 price objective on Uber Technologies in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.19.

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.