Westwood Wealth Management Sells 14,275 Shares of Uber Technologies, Inc. $UBER

Westwood Wealth Management trimmed its position in Uber Technologies, Inc. (NYSE:UBER) by 34.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,300 shares of the ride-sharing company’s stock after selling 14,275 shares during the quarter. Uber Technologies comprises approximately 1.0% of Westwood Wealth Management’s holdings, making the stock its 17th biggest position. Westwood Wealth Management’s holdings in Uber Technologies were worth $2,675,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in UBER. Kilter Group LLC purchased a new stake in shares of Uber Technologies in the second quarter worth $26,000. Westend Capital Management LLC bought a new position in Uber Technologies in the 3rd quarter worth $27,000. West Oak Capital LLC bought a new position in Uber Technologies in the 2nd quarter worth $28,000. Trust Co. of Toledo NA OH purchased a new stake in Uber Technologies in the 2nd quarter worth $30,000. Finally, Total Investment Management Inc. bought a new stake in Uber Technologies during the second quarter valued at about $32,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Down 2.4%

Shares of NYSE UBER opened at $85.46 on Monday. 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 12-month low of $60.63 and a 12-month high of $101.99. The firm’s 50-day moving average price is $86.55 and its 200-day moving average price is $91.35. The stock has a market capitalization of $177.58 billion, a price-to-earnings ratio of 10.98 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 for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the transaction, the chief financial officer owned 20,330 shares in the company, valued at $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony West sold 3,125 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $80.36, for a total transaction of $251,125.00. Following the completion of the sale, the insider directly owned 175,423 shares in the company, valued at approximately $14,096,992.28. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,875 shares of company stock worth $1,348,818 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on UBER shares. Guggenheim reduced their price objective on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company raised their target price on shares of Uber Technologies from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday. Arete Research set a $125.00 price target on shares of Uber Technologies and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Truist Financial increased their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $110.00 price objective on Uber Technologies in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.14.

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.