Hoey Investments Inc. Cuts Stake in Uber Technologies, Inc. $UBER

Hoey Investments Inc. reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,731 shares of the ride-sharing company’s stock after selling 2,314 shares during the quarter. Uber Technologies comprises approximately 0.9% of Hoey Investments Inc.’s holdings, making the stock its 12th largest position. Hoey Investments Inc.’s holdings in Uber Technologies were worth $6,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UBER. Noble Wealth Management PBC bought a new stake in Uber Technologies in the first quarter worth $27,000. Kozak & Associates Inc. lifted its position in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after buying an additional 223 shares during the last quarter. Vision Financial Markets LLC bought a new stake in Uber Technologies in the first quarter worth $27,000. GPS Wealth Strategies Group LLC lifted its position in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co lifted its position in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company’s stock worth $30,000 after buying an additional 306 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,571 shares of company stock worth $33,810,741. 3.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UBER. Canaccord Genuity Group reiterated a “hold” rating and set a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. BMO Capital Markets lifted their target price on Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Stifel Nicolaus lifted their target price on Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Bank of America lifted their target price on Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.06.

Uber Technologies Stock Performance

Uber Technologies stock opened at $99.48 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $92.74 and a two-hundred day moving average of $85.61. The company has a market capitalization of $207.47 billion, a price-to-earnings ratio of 16.95 and a beta of 1.43. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.