Primecap Management Co. CA Sells 12,250 Shares of Uber Technologies, Inc. (NYSE:UBER)

Primecap Management Co. CA lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,304,200 shares of the ride-sharing company’s stock after selling 12,250 shares during the period. Primecap Management Co. CA’s holdings in Uber Technologies were worth $94,789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of UBER. GHP Investment Advisors Inc. raised its stake in shares of Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 202 shares during the period. WR Wealth Planners LLC increased its holdings in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares during the period. J.Safra Asset Management Corp purchased a new position in Uber Technologies during the first quarter valued at approximately $32,000. Finally, MCF Advisors LLC increased its holdings in Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the period. Institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UBER. Bank of America reissued a “buy” rating and set a $88.00 price objective on shares of Uber Technologies in a report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. Melius began coverage on shares of Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective on the stock. Truist Financial reissued a “buy” rating and set a $88.00 price objective on shares of Uber Technologies in a report on Friday, September 6th. Finally, Roth Mkm lifted their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.84% of the company’s stock.

Uber Technologies Trading Up 1.8 %

NYSE UBER opened at $72.78 on Wednesday. The company has a market capitalization of $152.08 billion, a PE ratio of 117.39, a P/E/G ratio of 1.21 and a beta of 1.33. The company has a fifty day moving average of $69.45 and a 200 day moving average of $70.77. Uber Technologies, Inc. has a 1 year low of $40.09 and a 1 year high of $82.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Research analysts forecast that Uber Technologies, Inc. will post 1.06 earnings per share for the current year.

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.