MAI Capital Management Sells 6,402 Shares of Uber Technologies, Inc. (NYSE:UBER)

MAI Capital Management decreased its position in Uber Technologies, Inc. (NYSE:UBER) by 30.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,775 shares of the ride-sharing company’s stock after selling 6,402 shares during the quarter. MAI Capital Management’s holdings in Uber Technologies were worth $1,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of UBER. Ascent Wealth Partners LLC bought a new stake in shares of Uber Technologies during the 3rd quarter valued at $2,087,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Uber Technologies by 9.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock valued at $432,356,000 after purchasing an additional 512,591 shares during the period. Aptus Capital Advisors LLC grew its holdings in Uber Technologies by 17.1% during the second 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 period. Lederer & Associates Investment Counsel CA purchased a new stake in Uber Technologies in the third quarter worth about $799,000. Finally, Samlyn Capital LLC bought a new position in shares of Uber Technologies in the second quarter worth about $134,987,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James started coverage on shares of Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price for the company. Oppenheimer increased their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. KeyCorp lowered their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. UBS Group increased their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Price Performance

Shares of UBER stock opened at $69.71 on Friday. The company has a market capitalization of $146.78 billion, a P/E ratio of 34.64, a P/E/G ratio of 0.69 and a beta of 1.34. The company’s 50-day simple moving average is $75.46 and its two-hundred day simple moving average is $71.10. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 1.83 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction on 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 in the company, valued at $9,169,344. This represents a 23.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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.