WASHINGTON TRUST Co Decreases Position in Uber Technologies, Inc. $UBER

WASHINGTON TRUST Co decreased its position in Uber Technologies, Inc. (NYSE:UBER) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,347 shares of the ride-sharing company’s stock after selling 1,353 shares during the period. Uber Technologies accounts for approximately 0.9% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 27th largest position. WASHINGTON TRUST Co’s holdings in Uber Technologies were worth $24,850,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UBER. Nova Wealth Management Inc. raised its holdings in shares of 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 acquiring an additional 125 shares in the last quarter. Atticus Wealth Management LLC lifted its position in Uber Technologies by 39.8% during 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 during the last quarter. Sound View Wealth Advisors Group LLC lifted its position in shares of Uber Technologies by 4.4% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 3,051 shares of the ride-sharing company’s stock worth $285,000 after purchasing an additional 129 shares during the last quarter. Forum Financial Management LP raised its stake in Uber Technologies by 1.3% during the 1st 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, Crewe Advisors LLC lifted its stake in shares of Uber Technologies by 18.6% in the second quarter. Crewe Advisors LLC now owns 875 shares of the ride-sharing company’s stock valued at $82,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares of the company’s stock, valued at $2,239,733.76. This trade represents a 10.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 604,946 shares of company stock worth $58,950,116. 3.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on UBER shares. Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. Cantor Fitzgerald increased their target price on shares of Uber Technologies from $107.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. BMO Capital Markets reduced their price objective on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.26.

Uber Technologies Price Performance

Shares of UBER stock traded up $0.11 during trading hours on Thursday, hitting $93.68. The stock had a trading volume of 1,848,544 shares, compared to its average volume of 20,546,229. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $194.65 billion, a price-to-earnings ratio of 12.03 and a beta of 1.46. The stock’s 50-day moving average price is $95.50 and its two-hundred day moving average price is $91.56.

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, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same period last year, the company posted $1.20 earnings per share. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. Equities analysts forecast 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.