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

(Get an evaluation)

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.

Further reading

Institutional ownership by quarter for Uber Technologies (NYSE: UBER)



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