UNIVEST FINANCIAL Corp Invests $3.30 Million in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• UNIVEST FINANCIAL Corp has acquired 45,305 shares of Uber Technologies, valued at approximately $3.3 million, marking a significant investment during the first quarter.
• Analysts report that Uber's recent quarterly earnings exceeded expectations, with an EPS of $0.83, compared to the consensus estimate of $0.50, and revenue of $11.53 billion.
• UBS Group raised its price target for Uber Technologies from $107 to $115, maintaining a "buy" rating, while other analysts adjusted their ratings and targets.

UNIVEST FINANCIAL Corp acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 45,305 shares of the ride-sharing company's stock, valued at approximately $3,301,000.

Other hedge funds have also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in Uber Technologies during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in Uber Technologies during the fourth quarter valued at approximately $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC bought a new stake in Uber Technologies during the first quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC grew its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 0.9%

Shares of UBER traded down $0.77 during midday trading on Friday, hitting $86.98. The stock had a trading volume of 15,719,480 shares, compared to its average volume of 16,246,386. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $97.71. The firm has a market cap of $181.89 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The stock's 50 day moving average is $89.12 and its 200 day moving average is $80.29.

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

Analyst Ratings Changes

Several analysts recently issued reports on UBER shares. JPMorgan Chase & Co. boosted their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wedbush reiterated a "neutral" rating and issued a $85.00 price target on shares of Uber Technologies in a research report on Friday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Roth Capital upped their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $100.71.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Monday, July 7th. The stock was 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 owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,384 shares of company stock worth $3,496,071. Company 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.