Miracle Mile Advisors LLC Sells 1,526 Shares of Uber Technologies, Inc. (NYSE:UBER)

Miracle Mile Advisors LLC reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,234 shares of the ride-sharing company’s stock after selling 1,526 shares during the period. Miracle Mile Advisors LLC’s holdings in Uber Technologies were worth $2,272,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Everpar Advisors LLC increased its position in shares of Uber Technologies by 4.7% in the third quarter. Everpar Advisors LLC now owns 7,555 shares of the ride-sharing company’s stock valued at $568,000 after acquiring an additional 341 shares during the period. Diversified Trust Co purchased a new position in shares of Uber Technologies during the third quarter valued at about $1,136,000. Herbst Group LLC increased its position in shares of Uber Technologies by 46.6% during the third quarter. Herbst Group LLC now owns 22,100 shares of the ride-sharing company’s stock valued at $1,661,000 after buying an additional 7,025 shares during the period. GAMMA Investing LLC grew its holdings in Uber Technologies by 12.1% in the third quarter. GAMMA Investing LLC now owns 10,008 shares of the ride-sharing company’s stock worth $752,000 after purchasing an additional 1,082 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Uber Technologies by 1.9% in the third quarter. Handelsbanken Fonder AB now owns 947,353 shares of the ride-sharing company’s stock worth $71,203,000 after purchasing an additional 17,267 shares during the period. 80.24% of the stock is owned by institutional investors.

Uber Technologies Trading Up 0.4 %

NYSE UBER opened at $74.59 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $155.86 billion, a price-to-earnings ratio of 120.31, a price-to-earnings-growth ratio of 1.32 and a beta of 1.33. The company’s 50-day simple moving average is $71.23 and its two-hundred day simple moving average is $70.44. Uber Technologies, Inc. has a one year low of $40.09 and a one year high of $82.14.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Uber Technologies, Inc. will post 1.04 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s 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 sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Melius assumed coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price on the stock. Evercore ISI increased their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley increased their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Raymond James started coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 target price for the company. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.11.

About Uber Technologies

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.