Sovereign Financial Group Inc. Has $310,000 Stake in Uber Technologies, Inc. $UBER

Sovereign Financial Group Inc. trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 24.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,326 shares of the ride-sharing company’s stock after selling 1,077 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Uber Technologies were worth $310,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in Uber Technologies during the second quarter worth $96,000. Geneos Wealth Management Inc. increased its position in Uber Technologies by 805.4% during the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock worth $7,483,000 after buying an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Uber Technologies by 42.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock worth $70,822,000 after buying an additional 226,960 shares during the last quarter. Kapstone Financial Advisors LLC acquired a new position in Uber Technologies during the second quarter worth $415,000. Finally, Annex Advisory Services LLC increased its position in Uber Technologies by 35.6% during the second quarter. Annex Advisory Services LLC now owns 552,662 shares of the ride-sharing company’s stock worth $51,563,000 after buying an additional 145,071 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company’s stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock valued at $58,659,491 in the last quarter. 3.70% of the stock is currently owned by insiders.

Uber Technologies Stock Down 2.6%

NYSE UBER opened at $93.52 on Monday. 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 firm has a 50-day simple moving average of $94.86 and a 200 day simple moving average of $88.00. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The stock has a market cap of $195.03 billion, a PE ratio of 15.93 and a beta of 1.48.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on UBER. Susquehanna upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Stifel Nicolaus upped their price target on shares of Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Bank of America upped their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Raymond James Financial upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.03.

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.