Granite Bay Wealth Management LLC Trims Stake in Uber Technologies, Inc. (NYSE:UBER)

Granite Bay Wealth Management LLC lessened its holdings in Uber Technologies, Inc. (NYSE:UBER) by 34.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,186 shares of the ride-sharing company’s stock after selling 2,245 shares during the period. Granite Bay Wealth Management LLC’s holdings in Uber Technologies were worth $304,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in 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 valued at $10,320,940,000 after purchasing an additional 43,275,830 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares during the last quarter. GQG Partners LLC grew its position in Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after acquiring an additional 9,541,366 shares in the last quarter. Capital Research Global Investors increased its stake in Uber Technologies by 28.4% in the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after acquiring an additional 8,164,816 shares during the last quarter. Finally, Allen Investment Management LLC raised its position in Uber Technologies by 2,956.5% during the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock valued at $410,995,000 after purchasing an additional 5,163,635 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UBER. Morgan Stanley raised their price objective on Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. JMP Securities lifted their price target on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 7th. Wolfe Research began coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 price objective for the company. Evercore ISI lifted their target price on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.81.

Uber Technologies Trading Down 1.2 %

NYSE UBER opened at $74.28 on Wednesday. The firm has a market capitalization of $156.06 billion, a PE ratio of 119.81, a P/E/G ratio of 1.32 and a beta of 1.33. The stock’s 50 day moving average is $70.41 and its 200 day moving average is $70.57. Uber Technologies, Inc. has a twelve month low of $40.09 and a twelve month high of $82.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. Research analysts forecast that Uber Technologies, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by insiders.

About Uber Technologies

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.