Western Pacific Wealth Management LP Sells 2,846 Shares of Uber Technologies, Inc. (NYSE:UBER)

Western Pacific Wealth Management LP cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 68.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,324 shares of the ride-sharing company’s stock after selling 2,846 shares during the quarter. Western Pacific Wealth Management LP’s holdings in Uber Technologies were worth $96,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in UBER. Navalign LLC grew its position in shares of Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock valued at $1,536,000 after acquiring an additional 126 shares during the period. Amplius Wealth Advisors LLC boosted its position in Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock worth $302,000 after purchasing an additional 145 shares in the last quarter. Welch & Forbes LLC boosted its position in Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after purchasing an additional 148 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings in Uber Technologies by 3.5% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after purchasing an additional 150 shares during the period. Finally, United Advisor Group LLC increased its position in shares of Uber Technologies by 3.6% in the fourth quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company’s stock valued at $263,000 after buying an additional 153 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

NYSE:UBER opened at $83.81 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $175.26 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The firm has a 50-day moving average price of $82.19 and a two-hundred day moving average price of $74.00. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted ($0.32) EPS. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UBER. JPMorgan Chase & Co. lifted their price target on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, May 7th. Truist Financial raised their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group raised their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.39.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares of the company’s stock, valued at $1,790,355. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,384 shares of company stock worth $3,441,071. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Company 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.