Novem Group Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Novem Group acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,778 shares of the ride-sharing company's stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. Noble Wealth Management PBC bought a new position in Uber Technologies in the 1st quarter worth approximately $27,000. Kozak & Associates Inc. grew its holdings in Uber Technologies by 155.9% in the 1st 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. GPS Wealth Strategies Group LLC grew its holdings in 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 buying an additional 299 shares in the last quarter. Perkins Coie Trust Co grew its holdings in Uber Technologies by 306.0% in the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after buying an additional 306 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the 4th quarter worth approximately $27,000. Institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer directly owned 21,063 shares of the company's stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction 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 disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Price Performance

UBER opened at $93.46 on Friday. The stock has a fifty day moving average of $86.90 and a 200-day moving average of $76.31. The firm has a market capitalization of $195.43 billion, a P/E ratio of 16.37, a PEG ratio of 1.19 and a beta of 1.40. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $94.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) earnings per share. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp increased their price objective on Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Fox Advisors lowered Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Stifel Nicolaus started coverage on Uber Technologies in a research note on Wednesday, June 11th. They set a "buy" rating and a $110.00 price target for the company. Finally, Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Thirteen research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average target price of $94.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.