Challenger Wealth Management Purchases New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Challenger Wealth Management acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 4,000 shares of the ride-sharing company's stock, valued at approximately $241,000.

A number of other hedge funds have also modified their holdings of UBER. Grassi Investment Management grew its holdings in shares of Uber Technologies by 0.5% during the fourth quarter. Grassi Investment Management now owns 97,925 shares of the ride-sharing company's stock worth $5,907,000 after buying an additional 500 shares in the last quarter. Avior Wealth Management LLC grew its stake in Uber Technologies by 3,154.4% in the fourth quarter. Avior Wealth Management LLC now owns 22,032 shares of the ride-sharing company's stock valued at $1,329,000 after purchasing an additional 21,355 shares in the last quarter. Secure Asset Management LLC bought a new position in Uber Technologies in the fourth quarter valued at approximately $288,000. Brighton Jones LLC grew its stake in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Uber Technologies by 11.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 4,213 shares of the ride-sharing company's stock valued at $254,000 after purchasing an additional 420 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Up 1.4%

Shares of NYSE:UBER traded up $1.25 during midday trading on Tuesday, reaching $89.00. The company's stock had a trading volume of 17,434,956 shares, compared to its average volume of 20,428,867. The firm has a market capitalization of $186.11 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The firm has a 50 day moving average price of $78.47 and a two-hundred day moving average price of $72.61. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60.

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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) earnings per share. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Benchmark restated a "hold" rating on shares of Uber Technologies in a research note on Friday, January 31st. DA Davidson lifted their target price on Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Loop Capital reiterated a "buy" rating and set a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Citigroup lifted their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Bank of America lifted their target price on Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $93.91.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares of the company's stock, valued at $25,901,755.56. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now directly owns 114,241 shares of the company's stock, valued at approximately $8,027,715.07. This trade represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,788 shares of company stock worth $6,517,070. Corporate insiders own 3.84% of the company's stock.

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.