Strait & Sound Wealth Management LLC Sells 791 Shares of Uber Technologies, Inc. $UBER

Strait & Sound Wealth Management LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 16.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,073 shares of the ride-sharing company’s stock after selling 791 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Uber Technologies were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of UBER. Vanguard Group Inc. raised its position in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the 1st quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC raised its holdings in Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Uber Technologies by 3.9% during the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock valued at $1,401,873,000 after purchasing an additional 720,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock valued at $995,801,000 after purchasing an additional 394,157 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

NYSE:UBER opened at $94.09 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $196.21 billion, a price-to-earnings ratio of 16.03 and a beta of 1.48. The company has a 50 day moving average price of $95.42 and a 200-day moving average price of $89.56. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99.

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

Analyst Ratings Changes

UBER has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Bank of America boosted their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Susquehanna boosted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Uber Technologies in a research note on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $105.91.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 604,946 shares of company stock valued at $58,950,116. 3.84% of the stock is owned by corporate insiders.

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.