Financial Advocates Investment Management owns $236,000 of stock in Uber Technologies, Inc. (NYSE: UBER)
Financial Advocates Investment Management increased its position in Uber Technologies, Inc. (NYSE: UBER – Get Rating) by 9.4% in Q1, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The company held 6,600 shares of the ride-hailing company after purchasing an additional 566 shares during the quarter. Financial Advocates Investment Management’s holdings in Uber Technologies were worth $236,000 at the end of the last quarter.
A number of other hedge funds and other institutional investors have also recently changed their positions in UBER. MCF Advisors LLC bought a new position in Uber Technologies stock in the first quarter worth about $27,000. Core Alternative Capital increased its stake in Uber Technologies shares by 3,079.2% in the first quarter. Core Alternative Capital now owns 763 shares of the ride-hailing company valued at $27,000 after buying an additional 739 shares in the last quarter. CarsonAllaria Wealth Management Ltd. bought a new position in Uber Technologies stock in the fourth quarter, valued at around $33,000. Northern Oak Wealth Management Inc. bought a new position in Uber Technologies stock in the fourth quarter worth about $34,000. Finally, Dravo Bay LLC acquired a new stake in Uber Technologies in the first quarter worth approximately $34,000. 72.58% of the shares are held by institutional investors.
A Wall Street analyst gives his opinion
UBER has been the subject of several research reports. Oppenheimer lowered his price target on Uber Technologies from $45.00 to $40.00 in a Thursday, May 5 research report. Needham & Company LLC raised its price target on Uber Technologies from $50.00 to $52.00 and gave the stock a “buy” rating in a Wednesday, Aug. 3 research report. Mizuho cut its target price on Uber Technologies from $58.00 to $46.00 and set a “buy” rating for the company in a Wednesday, Aug. 3 research report. Susquehanna Bancshares raised its target price on Uber Technologies from $29.00 to $32.00 in a Wednesday, August 3 research report. Finally, Wedbush rephrased an “outperform” rating and set a target price of $38.00 on Uber Technologies shares in a Wednesday, June 29 research report. One analyst gave the stock a hold rating and twenty-seven gave the stock a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.
Insider activity at Uber Technologies
In other Uber Technologies news, insider Tony West sold 87,841 shares of the company in a trade on Thursday, August 4. The stock was sold at an average price of $31.26, for a total value of $2,745,909.66. Following the transaction, the insider now directly owns 141,944 shares of the company, valued at approximately $4,437,169.44. The sale was disclosed in a legal filing with the SEC, accessible via this link. 3.92% of the shares are held by insiders of the company.
Uber Technologies shares down 0.7%
UBER opened at $27.81 on Wednesday. Uber Technologies, Inc. has a 1-year low of $19.90 and a 1-year high of $48.88. The stock’s fifty-day simple moving average is $25.03 and its 200-day simple moving average is $28.48. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt ratio of 1.26. The stock has a market capitalization of $55.06 billion, a PE ratio of -5.34 and a beta of 1.35.
Uber Technologies (NYSE:UBER – Get Rating) last released its quarterly results on Tuesday, August 2. The rideshare company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimate of ($0.25) by ($1.08). Uber Technologies had a negative net margin of 39.39% and a negative return on equity of 69.83%. The company posted revenue of $8.08 billion in the quarter, versus a consensus estimate of $7.37 billion. During the same quarter last year, the company posted EPS of $0.58. The company’s revenue increased 105.6% year over year. As a group, research analysts expect Uber Technologies, Inc. to post earnings per share of -4.48 for the current year.
About Uber Technologies
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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa and Asia-Pacific. It connects consumers with independent transportation service providers for ride-sharing services; and connects passengers and other consumers at restaurants, grocery stores and other stores with delivery service providers for meal preparation, groceries and other delivery services.
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