Neo Ivy Capital Management Sells 34,240 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Neo Ivy Capital Management reduced its holdings in Uber Technologies, Inc. by 61.4%, selling 34,240 shares in the first quarter and now owns 21,518 shares valued at approximately $1.57 million.
• Uber Technologies recently reported an earnings per share (EPS) of $0.83 for the quarter, exceeding estimates, and its quarterly revenue grew by 13.8% year-over-year, amounting to $11.53 billion.
• Analysts have mixed ratings on Uber, with some upgrading the stock to a "buy" while others are less optimistic, resulting in a consensus price target of $100.26.

Neo Ivy Capital Management lessened its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 61.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,518 shares of the ride-sharing company's stock after selling 34,240 shares during the period. Neo Ivy Capital Management's holdings in Uber Technologies were worth $1,568,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Kozak & Associates Inc. increased 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 purchasing an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC increased its position in Uber Technologies by 305.1% during the first 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 during the last quarter. Perkins Coie Trust Co increased its position in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 306 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 80.24% of the company's stock.

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 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. 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 company's 50 day simple moving average is $89.29 and its 200 day simple moving average is $79.51. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last released its 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. The firm had revenue of $11.53 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) EPS. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the firm'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 transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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 transaction of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,384 shares of company stock valued at $3,496,071. Corporate insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on UBER shares. Wall Street Zen raised shares of Uber Technologies from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Wedbush lowered shares of Uber Technologies from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. Stifel Nicolaus began coverage on shares of Uber Technologies in a research report on Wednesday, June 11th. They set a "buy" rating and a $110.00 price target for the company. KeyCorp increased their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Ten research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.26.

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.