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

Arete Wealth Advisors LLC cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,626 shares of the ride-sharing company’s stock after selling 2,120 shares during the period. Arete Wealth Advisors LLC’s holdings in Uber Technologies were worth $573,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UBER. Ascent Wealth Partners LLC purchased a new position in Uber Technologies during the 3rd quarter valued at about $2,087,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after purchasing an additional 13,433 shares during the period. Aviso Wealth Management acquired a new position in shares of Uber Technologies in the third quarter valued at approximately $2,302,000. Brophy Wealth Management LLC acquired a new position in shares of Uber Technologies in the third quarter valued at approximately $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Uber Technologies by 9.8% during 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 in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 0.4 %

Shares of Uber Technologies stock opened at $61.41 on Friday. The company has a market cap of $129.31 billion, a P/E ratio of 30.55, a PEG ratio of 0.76 and a beta of 1.33. The firm has a fifty day moving average of $73.82 and a two-hundred day moving average of $71.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts forecast that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Tigress Financial lifted their price objective on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Monday, October 7th. Truist Financial dropped their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. DA Davidson lifted their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Daiwa Capital Markets downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies 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.