Archford Capital Strategies LLC Cuts Position in Uber Technologies, Inc. (NYSE:UBER)

Archford Capital Strategies LLC decreased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,252 shares of the ride-sharing company’s stock after selling 153 shares during the period. Archford Capital Strategies LLC’s holdings in Uber Technologies were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its position in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC raised its position in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in Uber Technologies in the fourth quarter valued at about $395,000. IFP Advisors Inc raised its position in Uber Technologies by 35.7% in the fourth quarter. IFP Advisors Inc now owns 34,477 shares of the ride-sharing company’s stock valued at $2,080,000 after purchasing an additional 9,061 shares during the period. Finally, FFT Wealth Management LLC raised its holdings in shares of Uber Technologies by 8.3% during the 4th quarter. FFT Wealth Management LLC now owns 11,334 shares of the ride-sharing company’s stock valued at $684,000 after buying an additional 870 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the transaction, the chief financial officer now owns 21,063 shares in the company, valued at approximately $1,790,355. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider now owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UBER. Stifel Nicolaus began coverage on Uber Technologies in a report on Wednesday, June 11th. They set a “buy” rating and a $110.00 target price on the stock. Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the company a “buy” rating in a research note on Friday, May 23rd. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, May 15th. KGI Securities reiterated a “neutral” rating and set a $78.00 price objective on shares of Uber Technologies in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company lifted their price target on shares of Uber Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $95.18.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $90.88 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60. The firm has a 50-day simple moving average of $84.48 and a 200 day simple moving average of $74.83. The company has a market cap of $190.05 billion, a PE ratio of 15.92, a P/E/G ratio of 1.17 and a beta of 1.38.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) earnings per share. On average, sell-side analysts anticipate 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.