Optas LLC Decreases Stake in Uber Technologies, Inc. $UBER

Optas LLC decreased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,518 shares of the ride-sharing company’s stock after selling 251 shares during the quarter. Optas LLC’s holdings in Uber Technologies were worth $888,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies during the first quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC lifted its stake in Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Northern Trust Corp lifted its stake in Uber Technologies by 3.9% during the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after purchasing an additional 720,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after purchasing an additional 394,157 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,250 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’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 transaction, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock valued at $58,659,491 over the last three months. 3.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on UBER. Mizuho began coverage on Uber Technologies in a research report on Monday, September 29th. They set an “outperform” rating and a $130.00 price target on the stock. Wells Fargo & Company cut their price target on Uber Technologies from $127.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Royal Bank Of Canada lifted their price target on Uber Technologies from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. KeyCorp lifted their price target on Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a research report on Saturday, September 27th. Two investment analysts have 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.03.

Uber Technologies Price Performance

Uber Technologies stock opened at $99.32 on Thursday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. 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 business has a 50 day simple moving average of $94.57 and a 200-day simple moving average of $87.55. The stock has a market capitalization of $207.12 billion, a PE ratio of 16.92 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts predict 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.