HB Wealth Management LLC Acquires 131,072 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• HB Wealth Management LLC significantly increased its stake in Uber Technologies by 363.6%, acquiring an additional 131,072 shares in the first quarter, bringing its total holdings to 167,121 shares valued at approximately $12.2 million.
• Insider transactions indicated possible shifts in confidence, with Jill Hazelbaker selling 34,884 shares and CFO Prashanth Mahendra-Rajah selling 2,750 shares, both reflecting decreases in their positions in the company.
• Analysts generally maintain a positive outlook on Uber, with ten analysts holding a hold rating and twenty-nine issuing a buy rating, alongside a consensus price target of $100.26.

HB Wealth Management LLC lifted its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 363.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,121 shares of the ride-sharing company's stock after acquiring an additional 131,072 shares during the quarter. HB Wealth Management LLC's holdings in Uber Technologies were worth $12,176,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Noble Wealth Management PBC bought a new position in shares of Uber Technologies during the 1st quarter valued at approximately $27,000. Kozak & Associates Inc. grew its stake in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the period. GPS Wealth Strategies Group LLC grew its stake in shares of Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 299 shares during the period. Perkins Coie Trust Co grew its stake in shares of Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after acquiring an additional 306 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies during the 4th quarter valued at approximately $27,000. 80.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction dated Monday, May 12th. The shares were 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. The trade was a 25.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were 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 owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,384 shares of company stock valued at $3,496,071. Company insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

UBER has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on Uber Technologies in a research note on Wednesday, June 11th. They set a "buy" rating and a $110.00 price objective for the company. Needham & Company LLC set a $109.00 price objective on Uber Technologies and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen raised Uber Technologies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Finally, Bank of America lifted their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average price target of $100.26.

Uber Technologies Trading Up 0.5%

NYSE:UBER opened at $91.31 on Friday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $190.94 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.05 and a beta of 1.40. The firm has a 50-day simple moving average of $89.29 and a 200-day simple moving average of $79.51.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS 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 analyst estimates of $11.61 billion. During the same quarter in the previous year, the business posted ($0.32) EPS. The company's quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS 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.

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