Uber Technologies, Inc. (NYSE:UBER) Shares Acquired by Linscomb Wealth Inc.

Key Points

• Linscomb Wealth Inc. increased its stake in Uber Technologies by 24.8% in the first quarter, owning 21,858 shares worth approximately $1.59 million.
• Uber Technologies reported earnings of $0.63 per share, exceeding expectations and showing an 18.2% year-over-year revenue increase to $12.65 billion for the quarter.
• Research analysts have adjusted their price targets for Uber, with most upgrading the stock's target to over $100, indicating a general sentiment of a "Moderate Buy."

Linscomb Wealth Inc. lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,858 shares of the ride-sharing company's stock after purchasing an additional 4,349 shares during the quarter. Linscomb Wealth Inc.'s holdings in Uber Technologies were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in UBER. Noble Wealth Management PBC acquired a new stake in Uber Technologies in the 1st quarter valued at $27,000. Kozak & Associates Inc. grew its stake 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 during the period. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC grew its stake 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 during the period. Finally, Perkins Coie Trust Co grew its stake 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 valued at $30,000 after acquiring an additional 306 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Down 3.3%

Shares of UBER opened at $89.64 on Monday. The firm has a market cap of $187.45 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The company's 50-day moving average price is $89.44 and its 200 day moving average price is $81.25. 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 issued 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 firm had revenue of $12.65 billion for 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 revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

UBER has been the topic of a number of research analyst reports. Needham & Company LLC lifted their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Piper Sandler lifted their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Raymond James Financial upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.84% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

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.