Perigon Wealth Management LLC Boosts Stock Holdings in Uber Technologies, Inc. $UBER

Perigon Wealth Management LLC lifted its stake in Uber Technologies, Inc. (NYSE:UBER) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,708 shares of the ride-sharing company’s stock after buying an additional 11,795 shares during the period. Perigon Wealth Management LLC’s holdings in Uber Technologies were worth $9,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brant Point Investment Management LLC bought a new stake in Uber Technologies during the second quarter valued at about $933,000. Munro Partners purchased a new position in shares of Uber Technologies during the 2nd quarter valued at about $96,294,000. Prudential PLC lifted its position in shares of Uber Technologies by 15.7% during the 2nd quarter. Prudential PLC now owns 216,855 shares of the ride-sharing company’s stock valued at $20,233,000 after buying an additional 29,359 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Uber Technologies by 1.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 2,082,067 shares of the ride-sharing company’s stock worth $194,257,000 after acquiring an additional 35,418 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Uber Technologies by 13.9% during the 2nd quarter. M&T Bank Corp now owns 426,163 shares of the ride-sharing company’s stock worth $39,761,000 after acquiring an additional 52,002 shares during the period. Institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. TD Cowen increased their price target on Uber Technologies from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $108.00 price target on shares of Uber Technologies in a report on Wednesday, October 29th. Barclays dropped their price objective on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Wedbush cut their target price on Uber Technologies from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.43.

Uber Technologies Trading Up 0.1%

Shares of Uber Technologies stock opened at $81.23 on Friday. Uber Technologies, Inc. has a twelve month low of $60.02 and a twelve month high of $101.99. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $88.82 and a 200-day moving average price of $91.47. The firm has a market cap of $168.78 billion, a price-to-earnings ratio of 10.44 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the sale, the chief financial officer owned 20,330 shares in the company, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 3,125 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $80.36, for a total transaction of $251,125.00. Following the transaction, the insider owned 175,423 shares of the company’s stock, valued at $14,096,992.28. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,875 shares of company stock valued at $1,348,818 over the last quarter. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.