Uber Technologies, Inc. (NYSE:UBER) Shares Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. lifted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,650 shares of the ride-sharing company’s stock after acquiring an additional 664 shares during the quarter. Essex Financial Services Inc.’s holdings in Uber Technologies were worth $701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dover Advisors LLC acquired a new stake in Uber Technologies during the second quarter valued at $1,160,000. Aptus Capital Advisors LLC grew its position in 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 buying an additional 1,383 shares during the period. Bray Capital Advisors grew its position in Uber Technologies by 9.4% during the second quarter. Bray Capital Advisors now owns 29,266 shares of the ride-sharing company’s stock valued at $2,127,000 after buying an additional 2,519 shares during the period. Spinnaker Trust acquired a new stake in Uber Technologies during the second quarter valued at $5,460,000. Finally, WR Wealth Planners LLC grew its position in shares of Uber Technologies by 563.9% in the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insiders Place Their Bets

In other Uber Technologies 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 transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Tony West sold 89,234 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the sale, the insider now owns 124,945 shares in the company, valued at approximately $8,518,750.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Insiders sold 617,234 shares of company stock worth $44,017,734 in the last 90 days. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on UBER shares. Wells Fargo & Company lifted their target price on shares of Uber Technologies from $91.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. TD Cowen lifted their target price on shares of Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler lifted their target price on shares of Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, June 25th. JMP Securities lifted their target price on shares of Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 7th. Finally, UBS Group dropped their target price on shares of Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Uber Technologies Trading Up 1.2 %

Shares of UBER stock opened at $73.13 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $152.81 billion, a P/E ratio of 117.95, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. The company has a 50 day moving average price of $69.50 and a 200 day moving average price of $71.42. Uber Technologies, Inc. has a fifty-two week low of $40.09 and a fifty-two week high of $82.14.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that Uber Technologies, Inc. will post 1.05 EPS 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.