Morse Asset Management Inc Reduces Holdings in Uber Technologies, Inc. (NYSE:UBER)

Morse Asset Management Inc cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 54.2% during the third quarter, HoldingsChannel.com reports. The fund owned 7,070 shares of the ride-sharing company’s stock after selling 8,375 shares during the quarter. Morse Asset Management Inc’s holdings in Uber Technologies were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. CENTRAL TRUST Co grew its position in Uber Technologies by 12.3% during the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after purchasing an additional 127 shares during the last quarter. Procyon Advisors LLC grew its holdings in shares of Uber Technologies by 2.1% during the third quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after buying an additional 131 shares during the last quarter. DT Investment Partners LLC grew its holdings in shares of Uber Technologies by 21.4% during the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock worth $62,000 after buying an additional 145 shares during the last quarter. Jmac Enterprises LLC increased its position in Uber Technologies by 2.1% in the 3rd quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after acquiring an additional 150 shares during the period. Finally, Wealthspire Advisors LLC raised its stake in Uber Technologies by 0.6% during the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock valued at $1,809,000 after acquiring an additional 151 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UBER shares. JMP Securities lifted their target price on Uber Technologies from $80.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research note on Thursday, October 17th. DA Davidson raised their target price on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm lifted their target price on shares of Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Tigress Financial raised their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $71.28 on Wednesday. The business has a fifty day simple moving average of $75.18 and a 200 day simple moving average of $71.41. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $87.00. The firm has a market cap of $150.10 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 0.91 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last posted its earnings results 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. The business had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

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.