Joel Isaacson & Co. LLC Cuts Stock Position in Uber Technologies, Inc. $UBER

Joel Isaacson & Co. LLC lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,774 shares of the ride-sharing company’s stock after selling 362 shares during the period. Joel Isaacson & Co. LLC’s holdings in Uber Technologies were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC acquired a new position in Uber Technologies during the 1st quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in Uber Technologies during the 1st quarter valued at about $27,000. West Oak Capital LLC acquired a new position in Uber Technologies during the 2nd quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC increased its position in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 299 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on UBER. Barclays reaffirmed an “overweight” rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Susquehanna upped their target price on Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, BMO Capital Markets raised their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.03.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares of the company’s stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is owned by insiders.

Uber Technologies Stock Down 2.2%

Shares of UBER stock opened at $97.87 on Wednesday. The stock has a 50 day moving average of $94.33 and a 200 day moving average of $87.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $204.10 billion, a P/E ratio of 16.67 and a beta of 1.48. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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%.Uber Technologies’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS 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.