Sovereign Financial Group Inc. Purchases New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Sovereign Financial Group Inc. purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,403 shares of the ride-sharing company's stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at $27,000. Avion Wealth increased its position in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock worth $26,000 after purchasing an additional 218 shares during the period. Transce3nd LLC acquired a new stake in Uber Technologies in the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Uber Technologies in the fourth quarter worth about $28,000. Finally, GHP Investment Advisors Inc. increased its position in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UBER. Loop Capital reiterated a "buy" rating and set a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Fox Advisors lowered shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a report on Tuesday, March 11th. Arete Research raised Uber Technologies to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $82.00 price objective on shares of Uber Technologies in a research note on Monday, May 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, May 7th. Twelve investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.91.

Uber Technologies Trading Up 1.1%

NYSE:UBER opened at $85.60 on Friday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $80.38 and a two-hundred day moving average price of $73.49. The company has a market cap of $179.00 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The business had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now directly owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the transaction, the senior vice president now directly owns 361,908 shares of the company's stock, valued at $25,901,755.56. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,788 shares of company stock worth $6,517,070. 3.84% of the stock is owned by insiders.

Uber Technologies Profile

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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