Federated Hermes Inc. Trims Holdings in Uber Technologies, Inc. (NYSE:UBER)

Federated Hermes Inc. reduced its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,071,393 shares of the ride-sharing company’s stock after selling 71,227 shares during the period. Federated Hermes Inc. owned approximately 0.05% of Uber Technologies worth $77,869,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 buying an additional 3,623,951 shares during the period. Capital World Investors lifted its position 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 acquiring an additional 283,802 shares during the period. Capital Research Global Investors grew its stake in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Uber Technologies by 37.8% in the first 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 purchasing an additional 9,996,508 shares during the period. Finally, Norges Bank purchased a new stake in shares of Uber Technologies during the fourth quarter worth approximately $1,415,778,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value 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 $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, June 5th. Evercore ISI boosted their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Piper Sandler lifted their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Finally, Cantor Fitzgerald began coverage on Uber Technologies in a research note on Thursday, September 5th. They set an “overweight” rating and a $90.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Stock Up 6.4 %

Shares of NYSE UBER opened at $72.48 on Friday. The firm has a market cap of $152.28 billion, a P/E ratio of 116.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. 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 $69.41 and its 200 day moving average price is $70.99.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.06 earnings per share 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.