Elk River Wealth Management LLC Buys Shares of 34,564 Uber Technologies, Inc. $UBER

Key Points

• Elk River Wealth Management LLC acquired 34,564 shares of Uber Technologies, valued at approximately $3.2 million, according to a recent SEC filing.
• Several large investors, including Vanguard Group and Pershing Square Capital Management, have increased their stakes in Uber, with institutional investors owning 80.24% of the company's stock.
• Analysts have recently increased their price targets for Uber, with a consensus rating of "Moderate Buy" and an average target price of $103.06.

Elk River Wealth Management LLC bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 34,564 shares of the ride-sharing company's stock, valued at approximately $3,225,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in Uber Technologies during the fourth quarter worth about $27,000. Kozak & Associates Inc. grew its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new position in Uber Technologies during the first quarter worth about $27,000. Vision Financial Markets LLC purchased a new position in Uber Technologies during the first quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC grew its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 4.2%

NYSE:UBER traded up $3.98 during mid-day trading on Friday, reaching $98.68. 38,703,086 shares of the company's stock traded hands, compared to its average volume of 16,364,744. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $99.70. The firm has a market capitalization of $205.79 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $92.63 and a 200-day moving average price of $85.32.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 EPS. The business's revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

UBER has been the subject of several research analyst reports. UBS Group lifted their price target on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Needham & Company LLC lifted their price target on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Bank of America lifted their price target on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Sanford C. Bernstein boosted their target price on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the sale, the chief executive officer owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 354,571 shares of company stock worth $33,810,741. Company insiders own 3.84% of the company's stock.

Uber Technologies Company Profile

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.