Gerber Kawasaki Wealth & Investment Management Cuts Position in Uber Technologies, Inc. $UBER

Gerber Kawasaki Wealth & Investment Management decreased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 3.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 59,402 shares of the ride-sharing company’s stock after selling 2,367 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Uber Technologies were worth $4,328,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of UBER. Pacer Advisors Inc. raised its holdings in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after buying an additional 6,254,898 shares during the period. Vanguard Group Inc. raised its holdings in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after buying an additional 5,759,353 shares during the period. Toyota Motor Corp purchased a new position in Uber Technologies in the fourth quarter valued at approximately $309,192,000. Boston Partners raised its stake in shares of Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company’s stock valued at $658,686,000 after purchasing an additional 2,749,456 shares during the period. Finally, Baillie Gifford & Co. purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $167,532,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction 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 transaction, the senior vice president directly owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,571 shares of company stock valued at $4,335,899. 3.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on UBER shares. UBS Group lifted their price objective on shares of Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. KeyCorp lifted their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Sanford C. Bernstein lifted their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Barclays restated an “overweight” rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $102.82.

Uber Technologies Stock Performance

Uber Technologies stock opened at $95.44 on Thursday. The company has a market cap of $199.02 billion, a PE ratio of 16.26, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a fifty day moving average price of $91.76 and a two-hundred day moving average price of $83.35. 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 12 month low of $59.33 and a 12 month high of $97.71.

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