BCGM Wealth Management LLC Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• BCGM Wealth Management LLC invested approximately $213,000 in Uber Technologies, Inc., purchasing 2,919 shares during the first quarter, according to their recent SEC filing.
• Numerous hedge funds have significantly increased their stakes in Uber, with Capital Research Global Investors raising their holdings by 79.0% in the fourth quarter, now owning 118 million shares.
• Analysts are optimistic about Uber, with several firms raising their price targets for the stock, resulting in an average target price of $100.71 and a consensus rating of "Moderate Buy."

BCGM Wealth Management LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,919 shares of the ride-sharing company's stock, valued at approximately $213,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. lifted its position in shares of Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after buying an additional 399,008 shares during the period. UMB Bank n.a. increased its holdings in Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in Uber Technologies during the 4th quarter valued at $1,875,000. Finally, APG Asset Management N.V. acquired a new stake in Uber Technologies during the 4th quarter valued at $84,687,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Down 0.9%

Shares of UBER traded down $0.77 during mid-day trading on Friday, hitting $86.98. The company's stock had a trading volume of 15,719,480 shares, compared to its average volume of 16,246,386. The company's 50-day moving average is $89.12 and its 200-day moving average is $80.29. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $97.71. The firm has a market capitalization of $181.89 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.01 and a beta of 1.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the prior year, the company earned ($0.32) EPS. The company's revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup lifted their target price on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. KeyCorp lifted their target price on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Bank of America lifted their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Stifel Nicolaus lifted their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Wedbush reaffirmed a "neutral" rating and set a $85.00 price objective on shares of Uber Technologies in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.71.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the sale, the insider owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,384 shares of company stock worth $3,496,071 over the last three months. Corporate insiders own 3.84% of the company's stock.

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.