Hedges Asset Management LLC Trims Stake in Uber Technologies, Inc. (NYSE:UBER)

Hedges Asset Management LLC lowered its position in Uber Technologies, Inc. (NYSE:UBER) by 9.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,500 shares of the ride-sharing company’s stock after selling 3,400 shares during the period. Uber Technologies accounts for about 1.4% of Hedges Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Hedges Asset Management LLC’s holdings in Uber Technologies were worth $2,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Navalign LLC grew its holdings in Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after purchasing an additional 126 shares during the period. Grove Bank & Trust raised its holdings in Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after buying an additional 133 shares during the last quarter. Amplius Wealth Advisors LLC lifted its stake in shares of Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock worth $302,000 after buying an additional 145 shares in the last quarter. Welch & Forbes LLC lifted its stake in shares of Uber Technologies by 3.9% in the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after buying an additional 148 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC increased its position in shares of Uber Technologies by 3.5% during the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling

In related news, insider Jill Hazelbaker sold 34,884 shares of the firm’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 now owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, 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 corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UBER shares. KeyCorp upped their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, May 7th. Tigress Financial set a $110.00 target price on Uber Technologies and gave the stock a “buy” rating in a research report on Friday, May 23rd. Wells Fargo & Company boosted their price target on Uber Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Wedbush downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $85.00 in a research note on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Uber Technologies Price Performance

UBER stock opened at $93.09 on Friday. The stock has a market cap of $194.67 billion, a PE ratio of 16.30, a P/E/G ratio of 1.15 and a beta of 1.38. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $94.38. The company has a 50-day moving average price of $84.83 and a 200 day moving average price of $75.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (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 firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies Company 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.