Ring Mountain Capital LLC Sells 39,931 Shares of Uber Technologies, Inc. (NYSE:UBER)

Ring Mountain Capital LLC reduced its position in Uber Technologies, Inc. (NYSE:UBER) by 73.1% during the first quarter, HoldingsChannel reports. The fund owned 14,663 shares of the ride-sharing company’s stock after selling 39,931 shares during the quarter. Uber Technologies comprises 0.8% of Ring Mountain Capital LLC’s holdings, making the stock its 27th biggest position. Ring Mountain Capital LLC’s holdings in Uber Technologies were worth $1,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management increased its position in shares of Uber Technologies by 142.0% in the first quarter. Hollencrest Capital Management now owns 3,790 shares of the ride-sharing company’s stock worth $276,000 after purchasing an additional 2,224 shares during the last quarter. Creekmur Asset Management LLC boosted its stake in Uber Technologies by 3,839.9% in the first quarter. Creekmur Asset Management LLC now owns 8,195 shares of the ride-sharing company’s stock worth $597,000 after buying an additional 7,987 shares in the last quarter. Independent Wealth Network Inc. purchased a new stake in Uber Technologies in the first quarter worth approximately $212,000. Markel Group Inc. boosted its stake in Uber Technologies by 11.9% in the first quarter. Markel Group Inc. now owns 122,000 shares of the ride-sharing company’s stock worth $8,889,000 after buying an additional 13,000 shares in the last quarter. Finally, Hardy Reed LLC boosted its stake in Uber Technologies by 0.9% in the first quarter. Hardy Reed LLC now owns 21,014 shares of the ride-sharing company’s stock worth $1,531,000 after buying an additional 179 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen lowered Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. 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 note on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Uber Technologies in a research note on Wednesday, June 11th. They set a “buy” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Roth Capital set a $110.00 price target on Uber Technologies and gave the stock a “buy” rating in a research note on Monday. Thirteen equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.63.

Uber Technologies Trading Down 0.2%

UBER opened at $90.32 on Friday. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $97.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $188.87 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40. The firm has a 50 day simple moving average of $89.06 and a 200 day simple moving average of $78.37.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company earned ($0.32) EPS. The business’s revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider owned 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company’s stock, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock valued at $3,496,071 in the last three months. 3.84% of the stock is owned by insiders.

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.