Gabelli Funds LLC Sells 32,696 Shares of Uber Technologies, Inc. (NYSE:UBER)

Gabelli Funds LLC reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 12.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 220,166 shares of the ride-sharing company’s stock after selling 32,696 shares during the quarter. Gabelli Funds LLC’s holdings in Uber Technologies were worth $16,002,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Fernbridge Capital Management LP increased its stake in Uber Technologies by 32.9% in the 2nd quarter. Fernbridge Capital Management LP now owns 712,773 shares of the ride-sharing company’s stock valued at $51,804,000 after buying an additional 176,385 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Uber Technologies by 62.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 34,033 shares of the ride-sharing company’s stock worth $2,474,000 after buying an additional 13,133 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Uber Technologies by 20.3% in the second quarter. Fidelis Capital Partners LLC now owns 5,063 shares of the ride-sharing company’s stock valued at $368,000 after acquiring an additional 853 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Uber Technologies by 7,763.3% during the second quarter. Frank Rimerman Advisors LLC now owns 20,366 shares of the ride-sharing company’s stock valued at $1,480,000 after acquiring an additional 20,107 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Uber Technologies by 124.1% during the second quarter. ProShare Advisors LLC now owns 642,104 shares of the ride-sharing company’s stock valued at $46,668,000 after acquiring an additional 355,520 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Stock Performance

NYSE:UBER opened at $74.69 on Tuesday. The stock has a market cap of $156.07 billion, a P/E ratio of 120.47, a PEG ratio of 1.27 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $69.65 and its two-hundred day moving average price is $70.63. Uber Technologies, Inc. has a twelve month low of $40.09 and a twelve month high of $82.14.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same period last year, the firm posted $0.18 earnings per share. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts predict that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Melius started coverage on Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective on the stock. Truist Financial restated a “buy” rating and set a $88.00 price target on shares of Uber Technologies in a research report on Friday, September 6th. BMO Capital Markets restated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Tuesday, July 30th. Citigroup boosted their target price on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

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.