NewEdge Advisors LLC Has $27.67 Million Position in Uber Technologies, Inc. $UBER

Key Points

• NewEdge Advisors LLC increased its stake in Uber Technologies by 69.2% in the first quarter, owning 379,718 shares worth approximately $27.67 million.
• Multiple analysts have revised their target prices for Uber, with Morgan Stanley raising theirs to $115.00, reflecting a positive outlook on the company's stock.
• Uber Technologies reported a net margin of 26.68% and a revenue increase of 18.2% from the previous year, achieving an earnings per share of $0.63 for the last quarter.

NewEdge Advisors LLC raised its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 69.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 379,718 shares of the ride-sharing company's stock after buying an additional 155,314 shares during the quarter. NewEdge Advisors LLC's holdings in Uber Technologies were worth $27,666,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new stake in Uber Technologies in the first quarter valued at $27,000. Kozak & Associates Inc. increased its holdings in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC increased its holdings in shares of 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 valued at $29,000 after purchasing an additional 299 shares during the period. Finally, Perkins Coie Trust Co increased its holdings in shares of Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company raised their price target on Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. UBS Group raised their price target on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus raised their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Buying and Selling

In related news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the transaction, the insider owned 170,269 shares of the company's stock, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated 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 transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,696 shares of company stock worth $4,632,774. Company insiders own 3.70% of the company's stock.

Uber Technologies Price Performance

NYSE:UBER traded down $1.09 during mid-day trading on Friday, reaching $90.89. 20,364,649 shares of the stock were exchanged, compared to its average volume of 14,490,310. The business has a fifty day moving average price of $92.42 and a 200 day moving average price of $84.05. The firm has a market capitalization of $189.54 billion, a PE ratio of 15.48, a PEG ratio of 1.04 and a beta of 1.43. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

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