Azzad Asset Management Inc. ADV Lowers Stake in Uber Technologies, Inc. (NYSE:UBER)

Azzad Asset Management Inc. ADV lessened its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 27.2% in the first quarter, Holdings Channel.com reports. The fund owned 34,712 shares of the ride-sharing company’s stock after selling 12,991 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Uber Technologies were worth $2,673,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in UBER. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 34.8% in the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after acquiring an additional 43,275,830 shares in the last quarter. Norges Bank acquired a new position in shares of Uber Technologies in the fourth quarter worth about $1,415,778,000. Edgewood Management LLC acquired a new position in shares of Uber Technologies in the fourth quarter worth about $783,401,000. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 28.4% in the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock worth $2,273,669,000 after acquiring an additional 8,164,816 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Uber Technologies by 41.0% during the fourth quarter. Northern Trust Corp now owns 17,419,446 shares of the ride-sharing company’s stock valued at $1,072,515,000 after buying an additional 5,063,412 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UBER. Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of Uber Technologies in a research note on Wednesday, May 8th. UBS Group cut their price objective on Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Tigress Financial upped their target price on Uber Technologies from $72.00 to $96.00 and gave the company a “buy” rating in a report on Friday, April 19th. Roth Mkm reaffirmed a “buy” rating and set a $89.00 target price (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Finally, TD Cowen lowered their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.41.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the sale, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tony West sold 28,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the sale, the insider now directly owns 96,945 shares in the company, valued at $6,851,103.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 635,984 shares of company stock valued at $42,258,297. 3.80% of the stock is owned by insiders.

Uber Technologies Price Performance

UBER opened at $71.27 on Thursday. The stock has a fifty day moving average of $67.98 and a 200-day moving average of $69.96. The firm has a market capitalization of $148.92 billion, a P/E ratio of 114.95, a PEG ratio of 1.54 and a beta of 1.36. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $82.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. Uber Technologies’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) EPS. Equities analysts forecast that Uber Technologies, Inc. will post 0.85 EPS for the current fiscal 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.