Spirit of America Management Corp NY Makes New $109,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

Spirit of America Management Corp NY acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,500 shares of the ride-sharing company’s stock, valued at approximately $109,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC lifted its stake in shares of Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock valued at $1,536,000 after buying an additional 126 shares in the last quarter. Grove Bank & Trust lifted its position in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after acquiring an additional 133 shares in the last quarter. Amplius Wealth Advisors LLC lifted its position in Uber Technologies by 3.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock valued at $302,000 after acquiring an additional 145 shares in the last quarter. Welch & Forbes LLC lifted its holdings in shares of Uber Technologies by 3.9% in the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock valued at $237,000 after purchasing an additional 148 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC lifted its holdings in shares of Uber Technologies by 3.5% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

NYSE:UBER opened at $83.73 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $93.60. The firm has a market cap of $175.09 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.06 and a beta of 1.38. The business’s fifty day moving average is $83.53 and its 200 day moving average is $74.39.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business posted ($0.32) earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. Research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush lowered Uber Technologies from an “outperform” rating to a “neutral” rating and raised their target price for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a “buy” rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company lifted their target price on shares of Uber Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $94.39.

Insider Buying and Selling

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 stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. This represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $3,001,070.52. Following the completion of the transaction, the insider now owns 102,135 shares in the company, valued at $8,786,674.05. This 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.

Uber Technologies Company 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.