Merit Financial Group LLC Buys 7,279 Shares of Uber Technologies, Inc. (NYSE:UBER)

Merit Financial Group LLC grew its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 12.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 64,417 shares of the ride-sharing company's stock after purchasing an additional 7,279 shares during the period. Merit Financial Group LLC's holdings in Uber Technologies were worth $4,693,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baxter Bros Inc. raised its holdings in shares of Uber Technologies by 12.9% in the first quarter. Baxter Bros Inc. now owns 35,656 shares of the ride-sharing company's stock valued at $2,598,000 after purchasing an additional 4,085 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Uber Technologies by 147.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 36,962 shares of the ride-sharing company's stock worth $2,693,000 after purchasing an additional 22,047 shares in the last quarter. Quad Cities Investment Group LLC increased its stake in Uber Technologies by 3.3% in the 1st quarter. Quad Cities Investment Group LLC now owns 12,703 shares of the ride-sharing company's stock valued at $926,000 after buying an additional 401 shares during the last quarter. LVW Advisors LLC lifted its position in shares of Uber Technologies by 56.1% during the 1st quarter. LVW Advisors LLC now owns 9,209 shares of the ride-sharing company's stock worth $671,000 after buying an additional 3,308 shares in the last quarter. Finally, Cox Capital Mgt LLC boosted its stake in shares of Uber Technologies by 84.7% in the 1st quarter. Cox Capital Mgt LLC now owns 60,595 shares of the ride-sharing company's stock worth $4,415,000 after buying an additional 27,795 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group increased their price target on Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. 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. KeyCorp boosted their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wedbush downgraded shares of Uber Technologies from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $80.00 to $85.00 in a report on Thursday, May 8th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $87.00 target price (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $93.91.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This trade represents a 17.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the 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 transaction, the insider now owns 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,788 shares of company stock valued at $6,517,070 in the last quarter. Insiders own 3.84% of the company's stock.

Uber Technologies Price Performance

NYSE UBER traded up $0.93 during trading on Friday, reaching $85.60. The company's stock had a trading volume of 28,140,231 shares, compared to its average volume of 20,733,656. The firm has a fifty day moving average of $80.13 and a 200 day moving average of $73.35. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $93.60. The stock has a market capitalization of $179.00 billion, a PE ratio of 18.77, a P/E/G ratio of 0.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the prior year, the business earned ($0.32) earnings per share. Uber Technologies's revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.