iA Global Asset Management Inc. Cuts Stake in Uber Technologies, Inc. $UBER

iA Global Asset Management Inc. reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 12.2% during the second quarter, HoldingsChannel reports. The fund owned 501,980 shares of the ride-sharing company’s stock after selling 69,657 shares during the period. iA Global Asset Management Inc.’s holdings in Uber Technologies were worth $46,835,000 as of its most recent SEC filing.

A number of other institutional investors 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 owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 0.2%

UBER stock opened at $96.71 on Friday. 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 business’s 50-day moving average is $95.56 and its two-hundred day moving average is $90.50. The company has a market cap of $201.68 billion, a price-to-earnings ratio of 16.48 and a beta of 1.48. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week 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 business 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 business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on UBER. Wells Fargo & Company dropped their price objective on Uber Technologies from $127.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. 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. Royal Bank Of Canada increased their target price on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, UBS Group increased their target price on Uber Technologies from $117.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.82.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 604,946 shares of company stock valued at $58,950,116. 3.84% of the stock is currently owned by corporate insiders.

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.