Uber Technologies, Inc. $UBER Stake Lifted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its stake in Uber Technologies, Inc. (NYSE:UBER) by 3,514.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,034 shares of the ride-sharing company’s stock after buying an additional 32,120 shares during the period. Provenance Wealth Advisors LLC’s holdings in Uber Technologies were worth $2,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Public Investment Fund acquired a new position in Uber Technologies in the second quarter valued at $5,256,173,439. Legal & General Group Plc acquired a new stake in shares of Uber Technologies during the second quarter worth about $943,167,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $752,151,000. Baird Financial Group Inc. lifted its holdings in shares of Uber Technologies by 64.4% in the 2nd quarter. Baird Financial Group Inc. now owns 9,099,343 shares of the ride-sharing company’s stock valued at $656,609,000 after purchasing an additional 3,564,073 shares during the last quarter. Finally, Fundsmith LLP purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $645,338,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Down 0.2%

UBER opened at $66.58 on Wednesday. Uber Technologies, Inc. has a 52 week low of $64.04 and a 52 week high of $95.44. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $70.71 and a two-hundred day moving average price of $73.25. The company has a market cap of $136.00 billion, a PE ratio of 14.63, a P/E/G ratio of 6.38 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, August 5th. The ride-sharing company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. Uber Technologies had a return on equity of 43.36% and a net margin of 17.34%. The firm had revenue of $14.19 billion during the quarter, compared to the consensus estimate of $14.24 billion. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts anticipate that Uber Technologies, Inc. will post 3.20 EPS for the current year.

Analyst Ratings Changes

UBER has been the topic of a number of research reports. Scotiabank started coverage on Uber Technologies in a research note on Wednesday, September 9th. They set a “sector outperform” rating and a $100.00 price target on the stock. Jefferies Financial Group lifted their price target on Uber Technologies from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Susquehanna reduced their price objective on Uber Technologies from $110.00 to $90.00 and set a “positive” rating for the company in a research note on Thursday, August 6th. Piper Sandler reissued an “overweight” rating on shares of Uber Technologies in a report on Thursday, August 13th. Finally, Weiss Ratings downgraded Uber Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.86.

Uber Technologies News Roundup

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: UBS maintained its Buy rating and set a $106 price target, implying significant upside from the recent share price. The firm did trim its target from $110, tempering the bullish signal. UBS Adjusts Price Target on Uber Technologies to $106 From $110, Keeps Buy Rating
• Positive Sentiment: Uber has applied for a Hong Kong ride-hailing license, a move toward formal regulatory approval that could support more structured operations and cooperation with local taxi operators. What Does Uber Winning A Hong Kong Ride Hailing License Mean?
• Neutral Sentiment: Uber reports Q3 results before Wednesday’s market open. Investors will scrutinize gross bookings, user growth and the outlook, particularly as spending on autonomous-vehicle initiatives increases. Options markets are pricing in a potentially sizable post-earnings move, signaling elevated uncertainty. Uber Q3 earnings preview
• Negative Sentiment: President Jill Hazelbaker is leaving Uber to become OpenAI’s chief corporate affairs officer. Her departure removes a longtime communications and policy executive ahead of a closely watched earnings report. Uber president Jill Hazelbaker joins OpenAI as communications chief

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi purchased 141,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average cost of $70.96 per share, for a total transaction of $10,005,360.00. Following the completion of the purchase, the chief executive officer directly owned 1,367,100 shares in the company, valued at $97,009,416. This represents a 11.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Macdonald bought 70,000 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were bought at an average price of $75.83 per share, for a total transaction of $5,308,100.00. Following the completion of the transaction, the insider directly owned 426,320 shares in the company, valued at approximately $32,327,845.60. This represents a 19.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.81% of the company’s stock.

About Uber Technologies

Uber Technologies, Inc is a technology company that connects consumers with independent drivers, couriers, merchants and transportation providers through its digital platform. Its Mobility business offers ridesharing and other transportation services, including taxi and vehicle-hire options in select markets. The company also provides business travel and transportation management tools for organizations.

Uber’s Delivery segment operates Uber Eats, which enables customers to order meals, groceries and other goods from participating restaurants, retailers and merchants.