Avidian Wealth Enterprises LLC Makes New $461,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

Avidian Wealth Enterprises LLC purchased a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,332 shares of the ride-sharing company's stock, valued at approximately $461,000.

Several other hedge funds also recently made changes to their positions in the stock. Naviter Wealth LLC boosted its position in shares of Uber Technologies by 2.5% in the first quarter. Naviter Wealth LLC now owns 20,548 shares of the ride-sharing company's stock valued at $1,495,000 after acquiring an additional 492 shares during the period. Essex Financial Services Inc. increased its holdings in Uber Technologies by 7.1% during the 1st quarter. Essex Financial Services Inc. now owns 10,269 shares of the ride-sharing company's stock worth $748,000 after acquiring an additional 677 shares during the period. Joel Isaacson & Co. LLC lifted its stake in Uber Technologies by 106.7% in the 1st quarter. Joel Isaacson & Co. LLC now owns 8,136 shares of the ride-sharing company's stock worth $593,000 after purchasing an additional 4,200 shares in the last quarter. TBH Global Asset Management LLC lifted its stake in Uber Technologies by 28.3% in the 1st quarter. TBH Global Asset Management LLC now owns 7,390 shares of the ride-sharing company's stock worth $538,000 after purchasing an additional 1,631 shares in the last quarter. Finally, K.J. Harrison & Partners Inc bought a new position in Uber Technologies in the 1st quarter valued at $729,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 1.9%

Shares of Uber Technologies stock opened at $93.28 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $94.38. The company's 50 day moving average price is $85.56 and its 200-day moving average price is $75.63. The stock has a market capitalization of $195.06 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.16 and a beta of 1.38.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the prior year, the company posted ($0.32) EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UBER shares. DA Davidson upped their price target on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, May 7th. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on Uber Technologies from $92.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Bank of America boosted their price objective on Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Twelve research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.85.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the sale, the chief financial officer owned 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% 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.

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