Uber Technologies, Inc. (NYSE:UBER) Stock Position Lowered by Udine Wealth Management Inc.

Udine Wealth Management Inc. cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 46.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,616 shares of the ride-sharing company’s stock after selling 18,656 shares during the period. Uber Technologies makes up about 1.2% of Udine Wealth Management Inc.’s holdings, making the stock its 24th biggest position. Udine Wealth Management Inc.’s holdings in Uber Technologies were worth $1,664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Uber Technologies by 34.8% during the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after purchasing an additional 43,275,830 shares during the period. Capital World Investors raised its position in shares of Uber Technologies by 0.7% during the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after purchasing an additional 283,802 shares during the period. Capital Research Global Investors raised its position in shares of Uber Technologies by 28.4% during the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock worth $2,273,669,000 after purchasing an additional 8,164,816 shares during the period. Norges Bank acquired a new stake in shares of Uber Technologies during the fourth quarter worth $1,415,778,000. Finally, Brown Advisory Inc. raised its position in shares of Uber Technologies by 14.7% during the fourth quarter. Brown Advisory Inc. now owns 17,991,630 shares of the ride-sharing company’s stock worth $1,107,745,000 after purchasing an additional 2,307,763 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Uber Technologies news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 635,984 shares of company stock worth $42,258,297. 3.80% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

NYSE:UBER traded down $2.14 during mid-day trading on Monday, hitting $70.54. 7,789,599 shares of the company’s stock traded hands, compared to its average volume of 19,371,543. The firm has a 50 day moving average of $67.90 and a two-hundred day moving average of $69.83. Uber Technologies, Inc. has a 12 month low of $40.09 and a 12 month high of $82.14. The firm has a market capitalization of $147.39 billion, a price-to-earnings ratio of 117.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.36. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter in the previous year, the company earned ($0.08) EPS. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that Uber Technologies, Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UBER. Truist Financial boosted their target price on Uber Technologies from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Bank of America lowered their price target on Uber Technologies from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Citigroup lifted their price target on Uber Technologies from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. DA Davidson reiterated a “buy” rating and set a $81.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. Finally, Wells Fargo & Company lifted their price target on Uber Technologies from $89.00 to $91.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.41.

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.