Redhawk Wealth Advisors Inc. Acquires New Holdings in Uber Technologies, Inc. $UBER

Key Points

• Redhawk Wealth Advisors Inc. has acquired a new stake in Uber Technologies, purchasing 3,061 shares valued at approximately $286,000 during the 2nd quarter.
• Recent analyst reports have generally been positive, with multiple firms, including Bank of America and JPMorgan Chase, raising their price targets on Uber stock, reflecting strong market confidence.
• Uber Technologies reported earnings of $0.63 per share in its latest quarterly results, exceeding analyst expectations and showing an 18.2% increase in revenue year-over-year.

Redhawk Wealth Advisors Inc. acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,061 shares of the ride-sharing company's stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies in the 4th quarter valued at about $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC acquired a new position in Uber Technologies in the 1st quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in Uber Technologies in the 1st quarter valued at about $27,000. Finally, GPS Wealth Strategies Group LLC grew its position 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 valued at $29,000 after acquiring an additional 299 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UBER has been the subject of several analyst reports. Bank of America boosted their target price on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Canaccord Genuity Group reissued a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Raymond James Financial boosted their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus boosted their target price on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Price Performance

Uber Technologies stock opened at $98.68 on Friday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $99.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $92.63 and a 200-day simple moving average of $85.32. The stock has a market capitalization of $205.79 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43.

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

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $93.94, for a total transaction of $293,562.50. Following the completion of the sale, the insider owned 171,558 shares in the company, valued at $16,116,158.52. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was 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. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 354,571 shares of company stock valued at $33,810,741. Corporate insiders own 3.84% of the company's stock.

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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