Azzad Asset Management Inc. ADV Sells 12,991 Shares of Uber Technologies, Inc. (NYSE:UBER)

Azzad Asset Management Inc. ADV lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Naviter Wealth LLC boosted its holdings in Uber Technologies by 178.3% in the first quarter. Naviter Wealth LLC now owns 11,041 shares of the ride-sharing company’s stock worth $850,000 after acquiring an additional 7,074 shares in the last quarter. MV Capital Management Inc. raised its stake in shares of Uber Technologies by 870.5% in the first quarter. MV Capital Management Inc. now owns 854 shares of the ride-sharing company’s stock worth $66,000 after purchasing an additional 766 shares during the last quarter. Cullinan Associates Inc. raised its stake in shares of Uber Technologies by 4.8% in the first quarter. Cullinan Associates Inc. now owns 99,196 shares of the ride-sharing company’s stock worth $7,637,000 after purchasing an additional 4,516 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Uber Technologies in the first quarter worth about $478,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Uber Technologies by 19.3% in the first quarter. Hexagon Capital Partners LLC now owns 2,705 shares of the ride-sharing company’s stock worth $208,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

UBER has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, June 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a research report on Tuesday, May 28th. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Uber Technologies in a research report on Wednesday, May 8th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price target on shares of Uber Technologies in a research report on Thursday, May 16th. Finally, Jefferies Financial Group reduced their price target on Uber Technologies from $103.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.41.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $71.27 on Thursday. The stock’s 50-day moving average is $67.98 and its two-hundred day moving average is $69.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.21. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The company has a market cap of $148.92 billion, a price-to-earnings ratio of 114.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36.

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

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the sale, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tony West sold 89,234 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $68.18, for a total value of $6,083,974.12. Following the transaction, the insider now directly owns 124,945 shares of the company’s stock, valued at $8,518,750.10. The disclosure for this sale can be found here. Insiders have sold a total of 635,984 shares of company stock worth $42,258,297 in the last quarter. 3.80% of the stock is owned by company 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.