Financial Management Network Inc. Invests $282,000 in Uber Technologies, Inc. $UBER

Key Points

• Financial Management Network Inc. purchased 3,010 shares of Uber Technologies, Inc., valued at approximately $282,000, indicating ongoing interest from institutional investors in the company.
• Analysts have raised their price targets for Uber, with Bank of America setting a new target of $115.00 and Cantor Fitzgerald increasing its target to $106.00, reflecting positive sentiment about the stock's performance.
• Uber reported a strong quarter with a revenue of $12.65 billion, surpassing estimates, and an earnings per share of $0.63, suggesting robust financial health amidst competitive market conditions.

Financial Management Network Inc. purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,010 shares of the ride-sharing company's stock, valued at approximately $282,000.

A number of other institutional investors also recently modified their holdings of UBER. Noble Wealth Management PBC bought a new position in Uber Technologies during the first quarter worth $27,000. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares during the period. Vision Financial Markets LLC bought a new position in Uber Technologies during the first quarter worth $27,000. GPS Wealth Strategies Group LLC increased its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after acquiring an additional 299 shares during the period. Finally, Perkins Coie Trust Co increased its position in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after acquiring an additional 306 shares during the period. Institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Wedbush decreased their price target on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley reiterated an "overweight" rating and set a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Finally, Piper Sandler lifted their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,571 shares of company stock worth $33,810,741. Corporate insiders own 3.84% of the company's stock.

Uber Technologies Stock Performance

UBER traded up $3.98 during trading hours on Friday, reaching $98.68. The company's stock had a trading volume of 38,703,086 shares, compared to its average volume of 16,364,744. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $99.70. The company's 50-day moving average is $92.63 and its 200-day moving average is $85.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $205.79 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 EPS. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.