Blume Capital Management Inc. Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Blume Capital Management Inc. lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,450 shares of the ride-sharing company’s stock after selling 550 shares during the quarter. Blume Capital Management Inc.’s holdings in Uber Technologies were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of UBER. CapWealth Advisors LLC acquired a new stake in Uber Technologies during the 2nd quarter worth $1,052,000. National Asset Management Inc. lifted its holdings in shares of Uber Technologies by 3.1% in the 2nd quarter. National Asset Management Inc. now owns 87,615 shares of the ride-sharing company’s stock valued at $4,392,000 after purchasing an additional 2,617 shares during the last quarter. Winslow Asset Management Inc. boosted its position in shares of Uber Technologies by 1.0% in the 2nd quarter. Winslow Asset Management Inc. now owns 121,615 shares of the ride-sharing company’s stock valued at $6,095,000 after purchasing an additional 1,200 shares during the period. Principal Financial Group Inc. grew its stake in Uber Technologies by 52.8% during the 2nd quarter. Principal Financial Group Inc. now owns 148,010 shares of the ride-sharing company’s stock worth $7,418,000 after buying an additional 51,144 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Uber Technologies during the second quarter worth approximately $68,519,000. Institutional investors and hedge funds own 72.73% of the company’s stock.

Shares of NYSE:UBER traded down $0.65 during trading on Wednesday, reaching $38.36. The stock had a trading volume of 592,663 shares, compared to its average volume of 21,250,016. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.55. The stock has a market cap of $72.28 billion, a P/E ratio of -60.95 and a beta of 1.54. The business has a fifty day moving average price of $43.24 and a 200-day moving average price of $49.61. Uber Technologies, Inc. has a fifty-two week low of $32.89 and a fifty-two week high of $64.05.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 4th. The ride-sharing company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $1.11. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.76 billion. Uber Technologies had a negative return on equity of 15.64% and a negative net margin of 7.78%. The firm’s revenue for the quarter was up 75.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.02) earnings per share. As a group, equities analysts forecast that Uber Technologies, Inc. will post -0.2 EPS for the current year.

In other news, insider Tony West sold 6,500 shares of the business’s stock in a transaction on Friday, July 2nd. The shares were sold at an average price of $50.51, for a total transaction of $328,315.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.06% of the company’s stock.

Several analysts recently commented on the stock. Oppenheimer reduced their price target on shares of Uber Technologies from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 5th. The Goldman Sachs Group started coverage on Uber Technologies in a report on Monday. They set a “buy” rating and a $64.00 price target on the stock. Jefferies Financial Group initiated coverage on Uber Technologies in a research note on Thursday, August 5th. They set a “buy” rating and a $75.00 price objective for the company. Wells Fargo & Company reiterated a “buy” rating on shares of Uber Technologies in a research note on Thursday, July 1st. Finally, BTIG Research restated a “buy” rating on shares of Uber Technologies in a research note on Thursday, June 10th. Three equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $68.57.

Uber Technologies Company Profile

Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through the following segments: Rides, Eats, Freight, Other Bets and ATG and Other Technology Programs.

Read More: Quiet Period

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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