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

Kovack Advisors Inc. lowered its stake in Uber Technologies, Inc. (NYSE:UBER) by 56.7% in the third quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent SEC filing.

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

Analysts Set New Price Targets

UBER has been the subject of a number of analyst reports. Daiwa America downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Loop Capital raised their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets restated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. UBS Group lifted their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, TD Cowen increased their target price on Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $90.32.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares in the company, valued at $9,169,344. The trade was a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.84% of the stock is currently owned by insiders.

Uber Technologies Price Performance

UBER stock opened at $71.44 on Friday. Uber Technologies, Inc. has a one year low of $53.15 and a one year high of $87.00. The firm has a 50-day moving average of $75.40 and a two-hundred day moving average of $71.00. The firm has a market capitalization of $150.43 billion, a PE ratio of 35.54, a P/E/G ratio of 0.71 and a beta of 1.34. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. On average, analysts forecast that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Uber Technologies 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.