Kovack Advisors Inc. Cuts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Kovack Advisors Inc. trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 56.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,973 shares of the ride-sharing company’s stock after selling 10,435 shares during the quarter. Kovack Advisors Inc.’s holdings in Uber Technologies were worth $599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its stake in shares of Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 245 shares during the period. WR Wealth Planners LLC grew its stake in shares of Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 344 shares in the last quarter. MCF Advisors LLC increased its holdings in Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Founders Capital Management acquired a new stake in Uber Technologies in the second quarter valued at $33,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Uber Technologies during the 2nd quarter worth about $36,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UBER. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Roth Mkm boosted their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Bank of America lifted their price target on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Trading Up 0.4 %

NYSE UBER opened at $71.44 on Friday. The company has a market cap of $150.43 billion, a P/E ratio of 35.54, a P/E/G ratio of 0.71 and a beta of 1.34. Uber Technologies, Inc. has a 12 month low of $53.15 and a 12 month high of $87.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50-day moving average of $75.40 and a 200-day moving average of $71.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during 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 for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. As a group, equities analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies 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 sale, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

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.