Accretive Wealth Partners LLC Lowers Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Accretive Wealth Partners LLC lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 6.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 20,883 shares of the ride-sharing company’s stock after selling 1,462 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Uber Technologies were worth $1,570,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ascent Wealth Partners LLC bought a new stake in shares of Uber Technologies in the 3rd quarter valued at about $2,087,000. Aviso Wealth Management bought a new stake in shares of Uber Technologies during the third quarter valued at approximately $2,302,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Uber Technologies by 9.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock worth $432,356,000 after buying an additional 512,591 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Uber Technologies by 17.1% during the second quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after purchasing an additional 1,383 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA purchased a new position in Uber Technologies during the third quarter valued at $799,000. Institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on UBER shares. Wells Fargo & Company cut their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Citigroup upped their target price on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Thursday, October 31st. Finally, KeyCorp decreased their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Stock Up 0.2 %

Shares of Uber Technologies stock opened at $69.71 on Friday. The stock has a market capitalization of $146.78 billion, a P/E ratio of 34.68, a PEG ratio of 0.69 and a beta of 1.34. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The stock has a 50 day moving average price of $75.46 and a two-hundred day moving average price of $71.10.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.84% of the company’s stock.

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.