Northside Capital Management LLC Invests $505,000 in Uber Technologies, Inc. $UBER

Key Points

• Northside Capital Management LLC has invested approximately $505,000 in Uber Technologies, acquiring 5,414 shares during the second quarter.
• Uber Technologies saw a significant increase in institutional interest, with 80.24% of its stock now held by institutional investors and hedge funds.
• Despite recent insider selling, Uber reported a net margin of 26.68% and an 18.2% year-over-year revenue increase, with quarterly earnings surpassing analyst expectations.

Northside Capital Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,414 shares of the ride-sharing company's stock, valued at approximately $505,000.

Other hedge funds have also modified their holdings of the company. Nova Wealth Management Inc. boosted 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. Atticus Wealth Management LLC increased its holdings in shares of Uber Technologies by 39.8% during the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company's stock worth $42,000 after buying an additional 127 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after buying an additional 133 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after buying an additional 136 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its holdings in Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the sale, the insider directly owned 170,269 shares in the company, valued at approximately $16,175,555. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,571 shares of company stock worth $33,810,741. Insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Raymond James Financial lifted their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 7th. Piper Sandler raised their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Trading Down 1.6%

Shares of NYSE:UBER opened at $97.78 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The firm has a fifty day moving average of $92.85 and a two-hundred day moving average of $85.70. The firm has a market capitalization of $203.90 billion, a P/E ratio of 16.66 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. On average, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS 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.

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