Journey Strategic Wealth LLC Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Journey Strategic Wealth LLC has acquired a new stake in Uber Technologies, Inc., purchasing 3,524 shares valued at approximately $257,000.
• Uber's stock has shown a 0.5% increase recently, with a market capitalization of $190.94 billion and recent earnings per share reported at $0.83, exceeding estimates.
• Analysts are optimistic, with multiple firms raising their price targets; Loop Capital now has a price objective of $105.00, indicative of a positive outlook on Uber's stock.

Journey Strategic Wealth LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,524 shares of the ride-sharing company's stock, valued at approximately $257,000.

Other hedge funds also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in Uber Technologies during the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new position in Uber Technologies during the fourth quarter worth about $27,000. Kozak & Associates Inc. grew 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 buying an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new position in Uber Technologies during the first quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 0.5%

Shares of NYSE:UBER opened at $91.31 on Friday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $97.71. The firm has a market capitalization 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 stock has a 50 day moving average price of $89.29 and a 200-day moving average price of $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 (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned ($0.32) EPS. The business's revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on UBER. Loop Capital reiterated a "buy" rating and issued a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. DA Davidson upped their price objective on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Sanford C. Bernstein upped their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Ten research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.26.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction that occurred 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 owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value 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. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock worth $3,496,071 in the last 90 days. 3.84% of the stock is currently owned by company insiders.

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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