Uber Technologies, Inc. $UBER Holdings Trimmed by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 291,325 shares of the ride-sharing company’s stock after selling 12,892 shares during the period. Gateway Investment Advisers LLC’s holdings in Uber Technologies were worth $28,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrow Financial Corp grew its holdings in shares of Uber Technologies by 6.8% during the third quarter. Arrow Financial Corp now owns 2,669 shares of the ride-sharing company’s stock valued at $261,000 after buying an additional 169 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Uber Technologies by 3.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 56,985 shares of the ride-sharing company’s stock worth $5,583,000 after acquiring an additional 1,978 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in Uber Technologies by 1.5% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 10,817 shares of the ride-sharing company’s stock worth $1,060,000 after acquiring an additional 160 shares during the period. Saxony Capital Management LLC grew its stake in Uber Technologies by 18.0% during the 3rd quarter. Saxony Capital Management LLC now owns 5,081 shares of the ride-sharing company’s stock valued at $498,000 after acquiring an additional 774 shares in the last quarter. Finally, Ascent Wealth Partners LLC increased its holdings in shares of Uber Technologies by 6.9% in the 3rd quarter. Ascent Wealth Partners LLC now owns 20,333 shares of the ride-sharing company’s stock valued at $1,992,000 after purchasing an additional 1,321 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Up 1.3%

Uber Technologies stock opened at $82.76 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 1-year low of $60.63 and a 1-year high of $101.99. The firm’s fifty day simple moving average is $87.66 and its 200-day simple moving average is $91.36. The company has a market capitalization of $171.96 billion, a P/E ratio of 10.64 and a beta of 1.20.

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

Insider Activity

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $80.36, for a total transaction of $251,125.00. Following the completion of the sale, the insider owned 175,423 shares in the company, valued at approximately $14,096,992.28. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 14,875 shares of company stock valued at $1,348,818. 3.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on UBER. TD Cowen raised their price target on shares of Uber Technologies from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Citigroup reiterated a “market perform” rating on shares of Uber Technologies in a research report on Wednesday, December 10th. Cantor Fitzgerald boosted their price target on shares of Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Finally, Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $109.33.

Uber Technologies 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.