Hodges Capital Management Inc. Has $27.55 Million Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Hodges Capital Management Inc. reduced its holdings in Uber Technologies by 30.9%, now owning 378,171 shares, valued at approximately $27.55 million.
• A majority of analysts maintain a positive outlook on Uber, with a consensus rating of "Moderate Buy" and an average target price of $103.06.
• Insider trading activity included CFO Prashanth Mahendra-Rajah selling 2,750 shares, indicating a 11.12% decrease in his ownership of the stock.

Hodges Capital Management Inc. reduced its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 30.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,171 shares of the ride-sharing company's stock after selling 169,486 shares during the quarter. Uber Technologies makes up approximately 2.8% of Hodges Capital Management Inc.'s holdings, making the stock its 2nd biggest position. Hodges Capital Management Inc.'s holdings in Uber Technologies were worth $27,554,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Modern Wealth Management LLC bought a new position in shares of Uber Technologies during the 1st quarter worth approximately $1,575,000. Nova Wealth Management Inc. grew its stake in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Anson Funds Management LP bought a new position in shares of Uber Technologies in the first quarter valued at $1,093,000. Strs Ohio acquired a new position in Uber Technologies during the first quarter worth $90,913,000. Finally, GK Wealth Management LLC acquired a new position in Uber Technologies during the first quarter worth $234,000. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on UBER shares. Canaccord Genuity Group restated a "hold" rating and set a $84.00 target price (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Wedbush lowered their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Stifel Nicolaus boosted their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Raymond James Financial boosted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $103.06.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction 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 transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,696 shares of company stock valued at $4,632,774. 3.84% of the stock is owned by company insiders.

Uber Technologies Trading Up 0.5%

UBER stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day moving average price of $92.57 and a two-hundred day moving average price of $84.43. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The stock has a market cap of $197.53 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43.

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

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.

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