2,679 Shares in Uber Technologies, Inc. $UBER Acquired by Acorn Financial Advisory Services Inc. ADV

Key Points

• Acorn Financial Advisory Services acquired a new position in Uber Technologies, purchasing 2,679 shares valued at approximately $250,000 in the second quarter.
• Uber reported $0.63 earnings per share for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 18.2%.
• Analysts have raised their price targets for Uber, with BMO Capital Markets setting a new target of $113.00, underlining a positive outlook for the stock.

Acorn Financial Advisory Services Inc. ADV bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,679 shares of the ride-sharing company's stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies during the first quarter worth about $27,000. West Oak Capital LLC acquired a new stake in Uber Technologies in the second quarter valued at approximately $28,000. Truvestments Capital LLC grew its position in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock valued at $30,000 after acquiring an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in Uber Technologies in the second quarter valued at approximately $30,000. Finally, Ransom Advisory Ltd acquired a new stake in Uber Technologies in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER opened at $94.21 on Wednesday. The business's fifty day moving average price is $95.07 and its 200 day moving average price is $88.19. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The stock has a market capitalization of $196.47 billion, a PE ratio of 16.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same period last year, the business posted $0.47 earnings per share. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Sanford C. Bernstein increased their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. BMO Capital Markets increased their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Susquehanna increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Uber Technologies in a research report on Tuesday. Finally, Barclays reaffirmed an "overweight" rating and issued a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $105.06.

Insider Buying and Selling

In other Uber Technologies news, insider Tony West sold 100,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 in the last three months. 3.70% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.