Beaumont Asset Management L.L.C. Decreases Holdings in Uber Technologies, Inc. $UBER

Beaumont Asset Management L.L.C. cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 31.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,954 shares of the ride-sharing company’s stock after selling 4,590 shares during the quarter. Beaumont Asset Management L.L.C.’s holdings in Uber Technologies were worth $929,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in UBER. Nova Wealth Management Inc. boosted its stake in Uber Technologies by 41.0% in the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Atticus Wealth Management LLC raised its position in Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 127 shares during the last quarter. Grove Bank & Trust raised its position in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after buying an additional 133 shares during the last quarter. Forum Financial Management LP raised its position in Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock worth $798,000 after buying an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after buying an additional 138 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 1.6%

Shares of UBER opened at $99.32 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a 50 day simple moving average of $94.57 and a two-hundred day simple moving average of $87.55. The firm has a market cap of $207.12 billion, a P/E ratio of 16.92 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Uber Technologies from $127.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. BMO Capital Markets boosted their target price on Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Mizuho assumed coverage on Uber Technologies in a research report on Monday, September 29th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Susquehanna upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.03.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on 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 directly owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was 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 approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,821 shares of company stock valued at $58,659,491 over the last 90 days. 3.84% of the stock is currently owned by 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.