Meeder Asset Management Inc. Lowers Stake in Uber Technologies, Inc. (NYSE:UBER)

Meeder Asset Management Inc. lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 87.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,048 shares of the ride-sharing company’s stock after selling 7,260 shares during the period. Meeder Asset Management Inc.’s holdings in Uber Technologies were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its holdings in Uber Technologies by 111.6% during 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 in the last quarter. WR Wealth Planners LLC lifted its holdings in Uber Technologies by 563.9% during 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 in the last quarter. J.Safra Asset Management Corp acquired a new stake in Uber Technologies during the 1st quarter worth approximately $32,000. MCF Advisors LLC lifted its holdings in Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after buying an additional 405 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new stake in Uber Technologies during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. 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. Cantor Fitzgerald initiated coverage on shares of Uber Technologies in a report on Thursday, September 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. Wolfe Research initiated coverage on shares of Uber Technologies in a report on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. Finally, JMP Securities raised their price objective on shares of Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Stock Up 6.4 %

Shares of NYSE:UBER opened at $72.48 on Friday. 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, Inc. has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The firm’s 50-day simple moving average is $69.41 and its 200-day simple moving average is $70.94. The company has a market cap of $152.28 billion, a price-to-earnings ratio of 116.90, a PEG ratio of 1.21 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced 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 net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter last year, the business earned $0.18 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that Uber Technologies, Inc. will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies 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 sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.84% of the stock is currently owned by company insiders.

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.