Hedeker Wealth LLC Acquires 3,190 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Hedeker Wealth LLC increased its holdings in Uber Technologies by 4.0%, acquiring an additional 3,190 shares, bringing its total to 82,148 shares valued at approximately $5.985 million.
• Insider Jill Hazelbaker sold 34,884 shares at an average price of $86.03, significantly reducing her ownership by 25.46%.
• Several analysts have raised their price targets for Uber, with JPMorgan Chase & Co. increasing theirs from $105 to $110, reflecting positive market sentiment.

Hedeker Wealth LLC grew its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,148 shares of the ride-sharing company's stock after buying an additional 3,190 shares during the period. Uber Technologies accounts for about 1.6% of Hedeker Wealth LLC's portfolio, making the stock its 22nd biggest holding. Hedeker Wealth LLC's holdings in Uber Technologies were worth $5,985,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Navalign LLC increased its stake in shares of Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after purchasing an additional 126 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after purchasing an additional 133 shares during the last quarter. Forum Financial Management LP increased its stake in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after purchasing an additional 136 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in shares of Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC increased its stake in shares of Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after purchasing an additional 145 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 ownership of the stock. The transaction was disclosed in a document filed 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, 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 of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock worth $3,496,071 in the last 90 days. 3.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on UBER shares. JPMorgan Chase & Co. raised their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. TD Cowen decreased their target price on Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Barclays boosted their price objective on Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. DA Davidson boosted their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company upped their price objective on Uber Technologies from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Ten equities research 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, the company currently has an average rating of "Moderate Buy" and an average target price of $100.26.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded up $0.44 during trading hours on Friday, reaching $91.31. The company's stock had a trading volume of 13,845,668 shares, compared to its average volume of 16,021,651. The company's 50 day simple moving average is $89.29 and its 200 day simple moving average is $79.51. 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 one year low of $54.84 and a one year high of $97.71. The stock has a market cap of $190.94 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. Uber Technologies's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) EPS. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.