Correct Capital Wealth Management Makes New $676,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

Correct Capital Wealth Management bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,276 shares of the ride-sharing company's stock, valued at approximately $676,000.

Other large investors also recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in Uber Technologies during the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of Uber Technologies in the 4th quarter valued at $27,000. Kozak & Associates Inc. lifted its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies in the 1st quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Uber Technologies in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Citigroup upped their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Raymond James Financial cut shares of Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, June 18th. Thirteen investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $95.97.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider directly 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 disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock valued at $3,496,071 over the last quarter. Company insiders own 3.84% of the company's stock.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $95.51 on Thursday. The stock has a market cap of $199.74 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.40. The firm has a fifty day moving average price of $87.94 and a 200-day moving average price of $77.06. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.