VCI Wealth Management LLC Takes Position in Uber Technologies, Inc. $UBER

VCI Wealth Management LLC bought a new stake in Uber Technologies, Inc. (NYSE:UBER) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,391 shares of the ride-sharing company’s stock, valued at approximately $1,312,000.

Other hedge funds have also made changes to their positions in the company. Kilter Group LLC purchased a new stake in Uber Technologies in the 2nd quarter worth approximately $26,000. West Oak Capital LLC acquired a new stake in shares of Uber Technologies in the second quarter worth about $28,000. Truvestments Capital LLC boosted its position in Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 339 shares during the period. Trust Co. of Toledo NA OH bought a new stake in shares of Uber Technologies during the 2nd quarter worth $30,000. Finally, Ransom Advisory Ltd bought a new stake in Uber Technologies during the first quarter valued at about $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $80.36, for a total transaction of $251,125.00. Following the completion of the sale, the insider directly owned 175,423 shares of the company’s stock, valued at $14,096,992.28. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at $1,919,355.30. The trade was a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,875 shares of company stock valued at $1,348,818 in the last ninety days. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

Uber Technologies stock opened at $81.14 on Friday. The company has a market cap of $168.60 billion, a PE ratio of 10.43 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 1 year low of $60.02 and a 1 year high of $101.99. The company’s 50-day moving average is $89.04 and its two-hundred day moving average is $91.48.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. During the same quarter in the previous year, the company earned $1.20 EPS. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. Equities analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

UBER has been the topic of several research analyst reports. Arete Research set a $125.00 price target on shares of Uber Technologies and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. BMO Capital Markets decreased their price target on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of Uber Technologies in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $108.00 price objective on shares of Uber Technologies in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.43.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.