Accel Wealth Management Takes $271,000 Position in Uber Technologies, Inc. $UBER

Key Points

• Accel Wealth Management has acquired 2,904 shares of Uber Technologies, Inc. for approximately $271,000, highlighting increasing institutional interest in the company.
• CEO Dara Khosrowshahi sold 300,000 shares, resulting in a 20.94% decrease in ownership, while insiders have collectively sold 601,821 shares valued at around $58.66 million in the last three months.
• Analysts are optimistic about Uber's performance, with several firms raising their price targets, including Stifel Nicolaus which increased its target from $110 to $117 and maintains a "buy" rating.

Accel Wealth Management acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,904 shares of the ride-sharing company's stock, valued at approximately $271,000.

Other hedge funds have also modified their holdings of the company. Kozak & Associates Inc. boosted its stake in shares of Uber Technologies by 155.9% in 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 during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies in the first quarter worth about $27,000. Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies in the first quarter worth about $27,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies in the second quarter worth about $28,000. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Uber Technologies by 305.1% in 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 during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is owned by insiders.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $96.53 on Monday. The business has a 50 day simple moving average of $93.93 and a two-hundred day simple moving average of $87.23. 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 $201.30 billion, a P/E ratio of 16.44 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 earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating 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 business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The business's revenue was up 18.2% compared to the same quarter last year. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on UBER shares. Stifel Nicolaus upped their target price on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Barclays reiterated an "overweight" rating and set a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Roth Capital increased their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Mizuho began coverage on Uber Technologies in a research report on Monday, September 29th. They set an "outperform" rating and a $130.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.03.

Uber Technologies 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.

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