NewEdge Wealth LLC Has $26.75 Million Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• NewEdge Wealth LLC increased its stake in Uber Technologies by 5.7%, acquiring a total of 367,071 shares worth approximately $26.7 million.
• Uber's recent earnings report showed $0.83 earnings per share, exceeding expectations, coupled with a 13.8% year-over-year revenue increase to $11.53 billion.
• Analysts have a consensus rating of "Moderate Buy" for Uber, with a target price averaging $100.71, reflecting strong institutional interest in the stock.

NewEdge Wealth LLC boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 367,071 shares of the ride-sharing company's stock after purchasing an additional 19,831 shares during the period. NewEdge Wealth LLC's holdings in Uber Technologies were worth $26,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Navalign LLC grew its position in shares of Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after acquiring an additional 126 shares during the period. Grove Bank & Trust grew its position in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after acquiring an additional 133 shares during the period. Forum Financial Management LP lifted its stake in Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after buying an additional 136 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after buying an additional 138 shares in the last quarter. Finally, Amplius Wealth Advisors LLC lifted its stake in Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after buying an additional 145 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UBER. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. UBS Group raised their price target on shares of Uber Technologies from $107.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen raised shares of Uber Technologies from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Needham & Company LLC raised 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. Finally, Bank of America raised their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.71.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated Monday, May 12th. The shares were 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 of the company's stock, valued at approximately $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. 3.70% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Up 1.9%

Shares of NYSE:UBER traded up $1.65 during trading on Monday, hitting $88.56. The company's stock had a trading volume of 15,068,075 shares, compared to its average volume of 17,033,008. The business has a 50 day moving average price of $89.12 and a two-hundred day moving average price of $80.47. The company has a market capitalization of $185.20 billion, a PE ratio of 15.51, a P/E/G ratio of 1.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly 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. The business had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.