Hoey Investments Inc. Acquires 2,782 Shares of Uber Technologies, Inc. (NYSE:UBER)

Hoey Investments Inc. grew its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,045 shares of the ride-sharing company’s stock after acquiring an additional 2,782 shares during the quarter. Uber Technologies comprises 1.0% of Hoey Investments Inc.’s holdings, making the stock its 13th largest holding. Hoey Investments Inc.’s holdings in Uber Technologies were worth $5,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Avaii Wealth Management LLC boosted its position in shares of Uber Technologies by 5.3% during the first quarter. Avaii Wealth Management LLC now owns 7,014 shares of the ride-sharing company’s stock valued at $511,000 after buying an additional 351 shares during the last quarter. CRA Financial Services LLC lifted its position in shares of Uber Technologies by 67.9% during the 1st quarter. CRA Financial Services LLC now owns 6,288 shares of the ride-sharing company’s stock valued at $458,000 after buying an additional 2,542 shares during the last quarter. Byrne Asset Management LLC lifted its position in shares of Uber Technologies by 1,333.3% during the 1st quarter. Byrne Asset Management LLC now owns 516 shares of the ride-sharing company’s stock valued at $38,000 after buying an additional 480 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of Uber Technologies by 3,515.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 103,040 shares of the ride-sharing company’s stock valued at $7,507,000 after buying an additional 100,190 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Uber Technologies by 44.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company’s stock worth $15,825,000 after acquiring an additional 66,783 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

UBER has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, May 7th. DA Davidson lifted their price objective on Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the stock a “buy” rating in a research report on Friday, May 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Monday, May 5th. Twelve investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.39.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 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 disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock worth $3,441,071 in the last three months. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Down 2.1%

Shares of UBER opened at $83.81 on Friday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The company has a market cap of $175.26 billion, a PE ratio of 18.38, a P/E/G ratio of 0.89 and a beta of 1.38. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $82.19 and a 200 day moving average of $73.97.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company posted ($0.32) EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.