Zega Financial LLC Decreases Stake in Uber Technologies, Inc. (NYSE:UBER)

Zega Financial LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 39.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,825 shares of the ride-sharing company’s stock after selling 5,106 shares during the quarter. Zega Financial LLC’s holdings in Uber Technologies were worth $569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in UBER. GHP Investment Advisors Inc. grew its stake in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 202 shares during the period. WR Wealth Planners LLC grew its position in shares of Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 344 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Uber Technologies during the first quarter valued at approximately $32,000. Finally, MCF Advisors LLC raised its holdings in shares of 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 acquiring an additional 405 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on UBER. Oppenheimer reiterated an “outperform” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, June 5th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, August 7th. Piper Sandler increased their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Citigroup lifted their price objective on Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, DA Davidson increased their target price on Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Stock Performance

Shares of UBER opened at $72.78 on Wednesday. The company has a market cap of $152.08 billion, a price-to-earnings ratio of 117.39, a P/E/G ratio of 1.21 and a beta of 1.33. The business’s fifty day simple moving average is $69.45 and its two-hundred day simple moving average is $70.77. Uber Technologies, Inc. has a 12 month low of $40.09 and a 12 month high of $82.14. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72.

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

Insider Activity

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the business’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 directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.84% of the company’s stock.

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.