Sovereign Financial Group Inc. Has $310,000 Stock Holdings in Uber Technologies, Inc. $UBER

Sovereign Financial Group Inc. lessened its holdings in Uber Technologies, Inc. (NYSE:UBER) by 24.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,326 shares of the ride-sharing company’s stock after selling 1,077 shares during the period. Sovereign Financial Group Inc.’s holdings in Uber Technologies were worth $310,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC increased its holdings in shares of Uber Technologies by 23.0% during the second quarter. Apollon Wealth Management LLC now owns 24,783 shares of the ride-sharing company’s stock worth $2,312,000 after buying an additional 4,641 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Uber Technologies by 18.0% during the second quarter. Hemington Wealth Management now owns 2,293 shares of the ride-sharing company’s stock worth $213,000 after buying an additional 349 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Uber Technologies by 8.3% during the second quarter. Fifth Third Wealth Advisors LLC now owns 55,007 shares of the ride-sharing company’s stock worth $5,132,000 after buying an additional 4,237 shares in the last quarter. Fulcrum Capital LLC acquired a new stake in shares of Uber Technologies during the second quarter worth approximately $6,373,000. Finally, DSM Capital Partners LLC increased its holdings in shares of Uber Technologies by 4.5% during the second quarter. DSM Capital Partners LLC now owns 2,625,476 shares of the ride-sharing company’s stock worth $244,957,000 after buying an additional 113,330 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analysts Set New Price Targets

UBER has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Piper Sandler raised their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Needham & Company LLC raised their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a report on Monday, July 14th. Barclays reissued an “overweight” rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.03.

Insider Transactions at Uber Technologies

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 value of $28,611,000.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’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 transaction of $1,061,523.54. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $93.52 on Monday. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The firm has a market cap of $195.03 billion, a P/E 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 firm has a 50 day simple moving average of $94.86 and a 200 day simple moving average of $88.00.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Uber Technologies Profile

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.