Means Investment CO. Inc. Reduces Stake in Uber Technologies, Inc. (NYSE:UBER)

Means Investment CO. Inc. reduced its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 54.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,113 shares of the ride-sharing company's stock after selling 53,768 shares during the period. Means Investment CO. Inc.'s holdings in Uber Technologies were worth $3,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Noble Wealth Management PBC acquired a new position in Uber Technologies in the first quarter valued at approximately $27,000. Kozak & Associates Inc. lifted its stake in shares of 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 purchasing an additional 223 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in shares of 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 purchasing an additional 299 shares during the period. Perkins Coie Trust Co grew its position in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after buying an additional 306 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in Uber Technologies in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Trading Up 0.3%

Shares of UBER traded up $0.29 during midday trading on Friday, reaching $83.73. The company had a trading volume of 27,456,507 shares, compared to its average volume of 20,854,698. The firm has a 50 day simple moving average of $83.30 and a 200-day simple moving average of $74.30. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market cap of $175.09 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.38. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $93.60.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Truist Financial increased their price target on Uber Technologies from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Wedbush cut Uber Technologies from an "outperform" rating to a "neutral" rating and boosted their price objective for the company from $80.00 to $85.00 in a research report on Thursday, May 8th. JMP Securities reiterated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Uber Technologies from $92.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $94.39.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider now owns 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% 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, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the sale, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.