Conning Inc. Boosts Holdings in Uber Technologies, Inc. (NYSE:UBER)

Conning Inc. boosted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 28.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,408 shares of the ride-sharing company’s stock after buying an additional 2,522 shares during the quarter. Conning Inc.’s holdings in Uber Technologies were worth $829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Argonautica Private Wealth Management Inc. purchased a new stake in shares of Uber Technologies during the second quarter valued at $901,000. MWA Asset Management purchased a new stake in shares of Uber Technologies during the second quarter valued at $212,000. Worth Financial Advisory Group LLC boosted its stake in shares of Uber Technologies by 34.9% during the second quarter. Worth Financial Advisory Group LLC now owns 24,192 shares of the ride-sharing company’s stock valued at $1,758,000 after purchasing an additional 6,262 shares during the period. Harbour Investments Inc. boosted its stake in shares of Uber Technologies by 2.0% during the second quarter. Harbour Investments Inc. now owns 10,509 shares of the ride-sharing company’s stock valued at $764,000 after purchasing an additional 208 shares during the period. Finally, Park Edge Advisors LLC purchased a new stake in shares of Uber Technologies during the second quarter valued at $548,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 1.0 %

Shares of NYSE:UBER traded down $0.71 during midday trading on Wednesday, reaching $71.85. 9,516,541 shares of the company’s stock were exchanged, compared to its average volume of 18,657,104. The firm’s 50 day simple moving average is $69.37 and its two-hundred day simple moving average is $71.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $150.13 billion, a price-to-earnings ratio of 115.34, a P/E/G ratio of 1.32 and a beta of 1.36. 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 issued its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.18 EPS. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UBER. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a research note on Wednesday, August 7th. Morgan Stanley boosted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler upped their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Jefferies Financial Group cut their price objective on shares of Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, June 5th. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 89,234 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the transaction, the insider now directly owns 124,945 shares in the company, valued at approximately $8,518,750.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 89,234 shares of Uber Technologies stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $68.18, for a total value of $6,083,974.12. Following the completion of the transaction, the insider now owns 124,945 shares of the company’s stock, valued at approximately $8,518,750.10. The disclosure for this sale can be found here. Insiders sold 617,234 shares of company stock worth $44,017,734 in the last three months. 3.84% of the stock is owned by company insiders.

Uber Technologies Company 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.