Zullo Investment Group Inc. Reduces Position in Uber Technologies, Inc. $UBER

Zullo Investment Group Inc. reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,010 shares of the ride-sharing company’s stock after selling 1,138 shares during the quarter. Zullo Investment Group Inc.’s holdings in Uber Technologies were worth $1,494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hilltop National Bank acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $96,000. Geneos Wealth Management Inc. lifted its holdings in shares of Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock valued at $7,483,000 after buying an additional 91,362 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Uber Technologies by 42.7% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock valued at $70,822,000 after buying an additional 226,960 shares during the period. Kapstone Financial Advisors LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $415,000. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after buying an additional 6,129 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% 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 90 days. Corporate insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on UBER shares. BMO Capital Markets raised their price target on Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. UBS Group lifted their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Barclays reaffirmed an “overweight” rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Stifel Nicolaus lifted their price objective on Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.03.

Uber Technologies Price Performance

UBER stock opened at $93.52 on Friday. The stock has a 50-day moving average price of $94.86 and a two-hundred day moving average price of $87.81. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market cap of $195.03 billion, a PE ratio of 15.93 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results 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 return on equity of 59.96% and a net margin of 26.68%.The firm 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 business earned $0.47 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Uber Technologies Company 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.