Spinnaker Trust Purchases 2,193 Shares of Uber Technologies, Inc. $UBER

Spinnaker Trust boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,967 shares of the ride-sharing company’s stock after purchasing an additional 2,193 shares during the quarter. Spinnaker Trust’s holdings in Uber Technologies were worth $8,207,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in 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 purchasing an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the 1st quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC raised its stake in Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Northern Trust Corp raised its stake in Uber Technologies by 3.9% during the 1st 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 stake in Uber Technologies by 3.0% during the 1st 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 institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the transaction, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 604,946 shares of company stock worth $58,950,116 over the last ninety days. Company insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wedbush cut their target price on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Uber Technologies in a report on Tuesday, October 21st. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.18.

Uber Technologies Trading Up 0.2%

Shares of Uber Technologies stock opened at $95.63 on Thursday. The stock has a market capitalization of $199.43 billion, a P/E ratio of 16.29 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $95.52 and a 200 day simple moving average of $90.17. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

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