Noble Wealth Management PBC Makes New $27,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

Noble Wealth Management PBC bought a new stake in Uber Technologies, Inc. (NYSE:UBER) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 365 shares of the ride-sharing company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Navalign LLC raised its stake in Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after purchasing an additional 126 shares in the last quarter. Amplius Wealth Advisors LLC lifted its position in Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock worth $302,000 after purchasing an additional 145 shares during the period. Welch & Forbes LLC grew its stake in Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after buying an additional 148 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in Uber Technologies by 3.5% during the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock worth $282,000 after buying an additional 150 shares in the last quarter. Finally, United Advisor Group LLC increased its holdings in Uber Technologies by 3.6% in the 4th quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company’s stock valued at $263,000 after buying an additional 153 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Price Performance

UBER stock opened at $85.65 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a market cap of $179.11 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 0.89 and a beta of 1.38. The company’s fifty day simple moving average is $81.81 and its 200 day simple moving average is $73.89. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $93.60.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the business earned ($0.32) EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,384 shares of company stock valued at $3,441,071. 3.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. Truist Financial increased their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a report on Wednesday, April 16th. Raymond James boosted their price target on Uber Technologies from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 8th. Wall Street Zen lowered Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Twelve investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.39.

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.