Mechanics Financial Corp Sells 145 Shares of Uber Technologies, Inc. $UBER

Mechanics Financial Corp lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,039 shares of the ride-sharing company’s stock after selling 145 shares during the quarter. Mechanics Financial Corp’s holdings in Uber Technologies were worth $1,310,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. J. Safra Sarasin Holding AG boosted its position in shares of Uber Technologies by 26.4% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 142,096 shares of the ride-sharing company’s stock valued at $13,258,000 after acquiring an additional 29,676 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in shares of Uber Technologies by 7.7% during the 2nd quarter. Platinum Investment Management Ltd. now owns 103,265 shares of the ride-sharing company’s stock valued at $9,635,000 after acquiring an additional 7,342 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $7,831,000. Pinnacle Investment Management Ltd bought a new stake in shares of Uber Technologies during the 2nd quarter valued at about $1,866,000. Finally, Philip James Wealth Mangement LLC boosted its position in shares of Uber Technologies by 6.2% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 3,844 shares of the ride-sharing company’s stock valued at $359,000 after acquiring an additional 225 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling

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 sale, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,571 shares of company stock valued at $58,920,741 over the last 90 days. 3.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on UBER shares. Barclays restated an “overweight” rating and issued a $110.00 target price (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Cowen restated a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Stifel Nicolaus boosted 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. Finally, KeyCorp boosted their target price on Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $104.09.

Uber Technologies Price Performance

Shares of UBER stock opened at $96.51 on Friday. The stock has a market cap of $201.27 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. The business’s fifty day moving average is $93.83 and its 200 day moving average is $86.87. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

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

About Uber Technologies

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.