Golden State Wealth Management LLC Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Golden State Wealth Management LLC increased its stake in Uber Technologies, Inc. (NYSE:UBER) by 243.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,834 shares of the ride-sharing company’s stock after purchasing an additional 3,425 shares during the quarter. Golden State Wealth Management LLC’s holdings in Uber Technologies were worth $352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in shares of Uber Technologies by 20.7% during the 1st quarter. Bessemer Group Inc. now owns 32,416 shares of the ride-sharing company’s stock valued at $2,361,000 after buying an additional 5,561 shares in the last quarter. Aurora Private Wealth Inc. purchased a new position in shares of Uber Technologies during the 1st quarter valued at $336,000. Spire Wealth Management lifted its stake in shares of Uber Technologies by 7.4% during the 1st quarter. Spire Wealth Management now owns 201,314 shares of the ride-sharing company’s stock valued at $14,668,000 after buying an additional 13,832 shares in the last quarter. Saxony Capital Management LLC bought a new stake in Uber Technologies in the 1st quarter valued at $312,000. Finally, Riverbend Wealth Management LLC increased its holdings in Uber Technologies by 103.3% in the 1st quarter. Riverbend Wealth Management LLC now owns 11,314 shares of the ride-sharing company’s stock valued at $824,000 after acquiring an additional 5,749 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

UBER has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a report on Wednesday. Wedbush downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Finally, KeyCorp lifted their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Twelve analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.85.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $91.54 on Friday. The company has a market capitalization of $191.43 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.18 and a beta of 1.38. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $94.38. The firm’s 50-day moving average is $85.16 and its 200 day moving average is $75.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) EPS. Research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’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 sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. The trade was a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by insiders.

About Uber Technologies

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.