Drake & Associates LLC Buys Shares of 8,008 Uber Technologies, Inc. $UBER

Drake & Associates LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, Holdings Channel reports. The firm purchased 8,008 shares of the ride-sharing company’s stock, valued at approximately $747,000.

A number of other hedge funds also recently made changes to their positions in the business. Kozak & Associates Inc. increased its position in 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 acquiring an additional 223 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies during the first quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies during the first quarter valued at $27,000. West Oak Capital LLC bought a new stake in shares of Uber Technologies during the second quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 299 shares during the period. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 3.5%

UBER opened at $100.02 on Tuesday. The company has a market capitalization of $208.58 billion, a PE ratio of 17.04 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The business has a 50-day moving average of $94.12 and a 200-day moving average of $87.40.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on UBER. Raymond James Financial raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. Susquehanna raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Wedbush cut their target price on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company lowered their price target on Uber Technologies from $127.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus boosted their price objective on Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.03.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 601,821 shares of company stock valued at $58,659,491. Insiders own 3.70% of the company’s stock.

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.