Checchi Capital Advisers LLC Sells 1,049 Shares of Uber Technologies, Inc. (NYSE:UBER)

Checchi Capital Advisers LLC reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 13.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,606 shares of the ride-sharing company’s stock after selling 1,049 shares during the period. Checchi Capital Advisers LLC’s holdings in Uber Technologies were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Uber Technologies by 34.8% during the 4th 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 period. Norges Bank bought a new stake in shares of Uber Technologies during the 4th quarter valued at about $1,415,778,000. Edgewood Management LLC bought a new position in Uber Technologies in the fourth quarter worth approximately $783,401,000. Price T Rowe Associates Inc. MD raised its stake in shares of Uber Technologies by 37.8% in the first 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 buying an additional 9,996,508 shares during the period. Finally, GQG Partners LLC increased its stake in shares of 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 purchasing an additional 9,541,366 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

UBER has been the subject of a number of research reports. Morgan Stanley increased their price target on Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Piper Sandler boosted their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 25th. Citigroup upped their price target on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JMP Securities lifted their price objective 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. Finally, Loop Capital decreased their target price on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Uber Technologies Trading Down 1.0 %

Shares of NYSE:UBER opened at $71.87 on Thursday. Uber Technologies, Inc. has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The company has a market cap of $150.98 billion, a PE ratio of 115.91, a P/E/G ratio of 1.31 and a beta of 1.36. The company’s 50-day moving average price is $69.40 and its 200 day moving average price is $71.42. 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 released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion for 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% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Sell-side analysts anticipate that Uber Technologies, Inc. will post 1.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Tony West sold 89,234 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the sale, the insider now directly owns 124,945 shares of the company’s stock, valued at $8,518,750.10. The disclosure for this sale can be found here. Insiders sold 617,234 shares of company stock valued at $44,017,734 over the last ninety days. Corporate 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.