Uber Technologies, Inc. (NYSE:UBER) Stake Boosted by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. increased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 13.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,796 shares of the ride-sharing company’s stock after acquiring an additional 585 shares during the period. Institute for Wealth Management LLC.’s holdings in Uber Technologies were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of UBER. Financial Management Professionals Inc. boosted its holdings in shares of Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 202 shares during the period. Bfsg LLC bought a new stake in Uber Technologies during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Uber Technologies in the first quarter valued at about $32,000. GW&K Investment Management LLC bought a new position in shares of Uber Technologies in the fourth quarter worth about $33,000. Finally, Founders Capital Management acquired a new position in shares of Uber Technologies during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the insider now owns 96,945 shares of the company’s stock, valued at approximately $6,851,103.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tony West sold 28,000 shares of the 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 transaction, the insider now directly owns 96,945 shares in the company, valued at approximately $6,851,103.15. The disclosure for this sale can be found here. In the last three months, insiders sold 617,234 shares of company stock valued at $44,017,734. 3.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UBER has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Jefferies Financial Group lowered their price objective on shares of Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Citigroup boosted their target price on shares of Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised their price target on shares of Uber Technologies from $91.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler boosted their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.50.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $0.99 during midday trading on Friday, reaching $74.30. The company had a trading volume of 13,065,551 shares, compared to its average volume of 18,829,795. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $69.28 and a 200 day simple moving average of $71.40. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The company has a market capitalization of $155.25 billion, a price-to-earnings ratio of 119.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same period last year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 1.04 earnings per share for the current year.

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.