Uber Technologies, Inc. $UBER Stock Holdings Cut by Abacus Planning Group Inc.

Abacus Planning Group Inc. reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,143 shares of the ride-sharing company’s stock after selling 337 shares during the quarter. Abacus Planning Group Inc.’s holdings in Uber Technologies were worth $387,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UBER shares. BMO Capital Markets raised their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Wedbush reduced their price objective on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Cowen reissued a “buy” rating on shares of Uber Technologies in a research note on Thursday, August 7th. UBS Group raised their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC raised their price objective on Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.09.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 100,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 604,571 shares of company stock valued at $58,920,741. Insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $96.51 on Friday. 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 one year low of $59.33 and a one year high of $101.99. The business’s 50-day moving average price is $93.83 and its two-hundred day moving average price is $86.87. The company has a market capitalization of $201.27 billion, a P/E ratio of 16.44 and a beta of 1.48.

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. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. Analysts anticipate 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.