Institute for Wealth Management LLC. Invests $439,000 in Uber Technologies, Inc. (NYSE:UBER)

Institute for Wealth Management LLC. acquired a new position in Uber Technologies, Inc. (NYSE:UBER) in the fourth quarter, Holdings Channel.com reports. The firm acquired 7,129 shares of the ride-sharing company’s stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Uber Technologies by 32.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 72,811 shares of the ride-sharing company’s stock worth $4,483,000 after purchasing an additional 17,904 shares in the last quarter. Western Wealth Management LLC boosted its holdings in Uber Technologies by 41.6% during the 4th quarter. Western Wealth Management LLC now owns 19,387 shares of the ride-sharing company’s stock valued at $1,194,000 after acquiring an additional 5,697 shares during the period. Trust Investment Advisors purchased a new stake in Uber Technologies during the 4th quarter valued at about $220,000. Xponance Inc. boosted its holdings in Uber Technologies by 61.7% during the 4th quarter. Xponance Inc. now owns 453,179 shares of the ride-sharing company’s stock valued at $27,902,000 after acquiring an additional 172,921 shares during the period. Finally, AIA Group Ltd purchased a new stake in Uber Technologies during the 4th quarter valued at about $1,161,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Down 2.9 %

UBER stock opened at $69.20 on Friday. Uber Technologies, Inc. has a twelve month low of $29.22 and a twelve month high of $82.14. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.79. The firm has a market cap of $144.03 billion, a PE ratio of 80.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.36. The business has a 50 day moving average of $76.89 and a 200 day moving average of $63.64.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.50. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.76 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, research analysts forecast that Uber Technologies, Inc. will post 1.22 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the transaction, the insider now owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Uber Technologies news, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the sale, the insider now directly owns 185,566 shares in the company, valued at approximately $13,004,465.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total value of $1,556,600.00. Following the sale, the insider now owns 107,290 shares in the company, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on UBER. Jefferies Financial Group increased their target price on Uber Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Uber Technologies from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. KeyCorp increased their target price on Uber Technologies from $79.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. UBS Group increased their target price on Uber Technologies from $94.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Mizuho increased their price objective on Uber Technologies from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $78.94.

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.