Granite Bay Wealth Management LLC Sells 2,245 Shares of Uber Technologies, Inc. (NYSE:UBER)

Granite Bay Wealth Management LLC trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER) by 34.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,186 shares of the ride-sharing company’s stock after selling 2,245 shares during the period. Granite Bay Wealth Management LLC’s holdings in Uber Technologies were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. lifted its holdings in shares of Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 245 shares during the period. Financial Management Professionals Inc. increased its position in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in Uber Technologies by 563.9% in the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 344 shares during the period. J.Safra Asset Management Corp purchased a new position in Uber Technologies in the first quarter worth about $32,000. Finally, MCF Advisors LLC grew its stake in shares of Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

UBER has been the topic of several recent research reports. Morgan Stanley increased their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Raymond James started coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target on the stock. DA Davidson boosted their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on Uber Technologies in a report on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Piper Sandler boosted their price target on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.81.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $74.28 on Wednesday. The firm has a fifty day simple moving average of $70.41 and a two-hundred day simple moving average of $70.57. Uber Technologies, Inc. has a 52 week low of $40.09 and a 52 week high of $82.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $156.06 billion, a P/E ratio of 119.81, a PEG ratio of 1.32 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.57 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. On average, analysts expect that Uber Technologies, Inc. will post 1.04 earnings per share for the current fiscal year.

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.