Raymond James Financial Services Advisors Inc. Cuts Position in Uber Technologies, Inc. (NYSE:UBER)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,809 shares of the ride-sharing company’s stock after selling 5,138 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Uber Technologies were worth $36,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Covenant Asset Management LLC raised its position in Uber Technologies by 0.3% during the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock valued at $4,078,000 after purchasing an additional 157 shares during the period. Hilltop Holdings Inc. lifted its position in Uber Technologies by 2.9% in the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after buying an additional 157 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Uber Technologies by 3.3% in the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock worth $376,000 after buying an additional 157 shares during the last quarter. Wellington Shields Capital Management LLC boosted its stake in Uber Technologies by 6.1% during the first quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock worth $212,000 after buying an additional 159 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its position in Uber Technologies by 3.2% during the first quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock valued at $398,000 after acquiring an additional 160 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now 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 at the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was 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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony West sold 28,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at approximately $6,851,103.15. The disclosure for this sale can be found here. Insiders sold a total of 617,234 shares of company stock valued at $44,017,734 in the last quarter. 3.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on UBER shares. Loop Capital cut their price target on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Wedbush reiterated an “outperform” rating and issued a $85.00 price target on shares of Uber Technologies in a report on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. Jefferies Financial Group reduced their target price on Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Oppenheimer reissued an “outperform” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $87.47.

Uber Technologies Stock Performance

NYSE UBER traded up $2.14 on Monday, hitting $74.18. 13,715,600 shares of the company’s stock traded hands, compared to its average volume of 19,038,059. The firm has a market capitalization of $155.00 billion, a PE ratio of 119.65, a P/E/G ratio of 1.30 and a beta of 1.36. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The firm’s 50-day moving average price is $69.07 and its two-hundred day moving average price is $71.29. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Uber Technologies, Inc. will post 1.04 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.