Uber Technologies, Inc. (NYSE:UBER) Stake Lessened by ELCO Management Co. LLC

ELCO Management Co. LLC trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 32.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,765 shares of the ride-sharing company's stock after selling 5,722 shares during the quarter. ELCO Management Co. LLC's holdings in Uber Technologies were worth $857,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of UBER. Navalign LLC grew its stake in Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after purchasing an additional 126 shares in the last quarter. Grove Bank & Trust grew its stake in Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after purchasing an additional 133 shares in the last quarter. Amplius Wealth Advisors LLC grew its stake in Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after purchasing an additional 145 shares in the last quarter. United Advisor Group LLC grew its stake in Uber Technologies by 3.6% in the fourth quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company's stock worth $263,000 after purchasing an additional 153 shares in the last quarter. Finally, American Financial Advisors LLC grew its stake in Uber Technologies by 3.0% in the first quarter. American Financial Advisors LLC now owns 5,401 shares of the ride-sharing company's stock worth $394,000 after purchasing an additional 155 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on UBER shares. JPMorgan Chase & Co. lifted their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday. Raymond James Financial downgraded Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, June 18th. Barclays lifted their target price on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Finally, Wedbush downgraded Uber Technologies from an "outperform" rating to a "neutral" rating and lifted their target price for the company from $80.00 to $85.00 in a research note on Thursday, May 8th. Thirteen analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $96.12.

Uber Technologies Price Performance

NYSE UBER traded down $1.04 on Friday, reaching $95.36. 12,442,436 shares of the stock traded hands, compared to its average volume of 21,233,017. The firm's fifty day simple moving average is $88.47 and its 200 day simple moving average is $77.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.21 and a beta of 1.40. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.72.

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

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction 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 sale, the insider directly owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,384 shares of company stock valued at $3,496,071. Corporate insiders own 3.84% of the company's stock.

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.