Envestnet Portfolio Solutions Inc. Reduces Stock Position in Uber Technologies, Inc. $UBER

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 199,337 shares of the ride-sharing company’s stock after selling 6,697 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Uber Technologies were worth $18,598,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nova Wealth Management Inc. lifted its holdings in Uber Technologies by 41.0% during the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock worth $31,000 after buying an additional 125 shares during the period. Atticus Wealth Management LLC raised its position in shares of Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 127 shares in the last quarter. Grove Bank & Trust boosted its position in Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after purchasing an additional 133 shares in the last quarter. Forum Financial Management LP grew its stake in Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock valued at $798,000 after purchasing an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its holdings in Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America increased their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Stifel Nicolaus increased their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Sanford C. Bernstein lifted their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Canaccord Genuity Group reiterated a “hold” rating and set a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. boosted their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $104.03.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies 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 sale, the insider owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock worth $58,659,491 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Uber Technologies Price Performance

NYSE UBER opened at $93.52 on Monday. The company has a market cap of $195.03 billion, a price-to-earnings ratio of 15.93 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $94.86 and its 200 day moving average price is $88.00. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion during 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 firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current 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.