Los Angeles Capital Management LLC Sells 242,636 Shares of Uber Technologies, Inc. (NYSE:UBER)

Los Angeles Capital Management LLC decreased its position in Uber Technologies, Inc. (NYSE:UBER) by 36.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 427,186 shares of the ride-sharing company’s stock after selling 242,636 shares during the period. Los Angeles Capital Management LLC’s holdings in Uber Technologies were worth $31,048,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in UBER. Aptus Capital Advisors LLC raised its position in Uber Technologies by 17.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after purchasing an additional 1,383 shares during the last quarter. US Bancorp DE lifted its stake in Uber Technologies by 2.5% in the fourth quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock worth $61,310,000 after acquiring an additional 24,059 shares during the period. Brookstone Capital Management boosted its holdings in Uber Technologies by 19.0% in the second quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock valued at $11,082,000 after acquiring an additional 25,814 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Uber Technologies by 26.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 41,254 shares of the ride-sharing company’s stock valued at $2,998,000 after purchasing an additional 8,614 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Uber Technologies by 70.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock worth $959,000 after purchasing an additional 6,426 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UBER. Wells Fargo & Company lifted their target price on shares of Uber Technologies from $91.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Uber Technologies in a report on Wednesday, August 7th. Melius Research started coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price for the company. Loop Capital lifted their price target on Uber Technologies from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group increased their price objective on Uber Technologies from $85.00 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 assigned a buy rating to the stock. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Uber Technologies Trading Down 2.3 %

Shares of NYSE:UBER opened at $69.58 on Friday. The stock’s 50-day simple moving average is $69.53 and its two-hundred day simple moving average is $71.22. The stock has a market capitalization of $146.18 billion, a price-to-earnings ratio of 112.23, a PEG ratio of 1.28 and a beta of 1.33. Uber Technologies, Inc. has a 52-week low of $40.09 and a 52-week high of $82.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same period in the previous year, the business posted $0.18 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts expect that Uber Technologies, Inc. will post 1.05 EPS for the current year.

Insider Activity

In related news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at approximately $6,851,103.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies 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 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. Also, insider Tony West sold 28,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the sale, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The disclosure for this sale can be found here. 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.