Quest Investment Management LLC Cuts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Quest Investment Management LLC decreased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 13.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,460 shares of the ride-sharing company’s stock after selling 3,205 shares during the quarter. Quest Investment Management LLC’s holdings in Uber Technologies were worth $1,487,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares during the period. Capital World Investors increased its holdings in Uber Technologies by 0.7% during the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after purchasing an additional 283,802 shares during the period. Capital Research Global Investors raised its position in Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after buying an additional 9,996,508 shares during the period. Finally, GQG Partners LLC grew its position in shares of Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after buying an additional 9,541,366 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 1.8 %

Uber Technologies stock opened at $73.94 on Friday. The stock’s 50 day moving average price is $69.60 and its 200 day moving average price is $70.72. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The company has a market cap of $154.50 billion, a PE ratio of 119.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts predict that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on UBER. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, August 7th. DA Davidson boosted their target price on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research initiated coverage on Uber Technologies in a research report on Tuesday, July 16th. They set an “outperform” rating and a $90.00 target price on the stock. TD Cowen increased their price target on shares of Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Roth Mkm boosted their price objective on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $87.60.

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.