Spire Wealth Management Sells 49,680 Shares of Uber Technologies, Inc. $UBER

Spire Wealth Management cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 24.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 151,634 shares of the ride-sharing company’s stock after selling 49,680 shares during the period. Spire Wealth Management’s holdings in Uber Technologies were worth $13,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UBER. Hilltop National Bank purchased a new stake in shares of Uber Technologies during the second quarter valued at $96,000. Teacher Retirement System of Texas boosted its position in shares of Uber Technologies by 50.2% during the second quarter. Teacher Retirement System of Texas now owns 548,051 shares of the ride-sharing company’s stock valued at $51,133,000 after buying an additional 183,085 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of 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 valued at $7,483,000 after buying an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of 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 valued at $70,822,000 after buying an additional 226,960 shares during the last quarter. Finally, Kapstone Financial Advisors LLC purchased a new stake in shares of Uber Technologies during the second quarter valued at $415,000. 80.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at approximately $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 604,946 shares of company stock worth $58,950,116. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Trading Up 0.2%

Shares of NYSE:UBER opened at $95.63 on Thursday. The stock has a market capitalization of $199.43 billion, a price-to-earnings ratio of 16.29 and a beta of 1.48. 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’s 50-day simple moving average is $95.52 and its two-hundred day simple moving average is $90.17. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week 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 the consensus estimate of $0.61 by $0.02. The business 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 business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $0.47 earnings per share. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent analyst reports. Wedbush dropped their price objective on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Bank of America increased their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. UBS Group increased their price objective on Uber Technologies from $117.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday. KeyCorp increased their price objective on Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.18.

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.