Channel Wealth LLC Buys Shares of 42,438 Uber Technologies, Inc. $UBER

Key Points

• Channel Wealth LLC acquired 42,438 shares of Uber Technologies, valued at approximately $3,959,000, making it the fund's 27th largest holding.
• Several large investors, including UMB Bank and Geneos Wealth Management, have significantly increased their stakes in Uber, with Geneos raising its investment by 805.4%.
• Wall Street analysts have a positive outlook on Uber, with multiple firms raising their price targets, leading to an average target price of $103.06 and a general rating of "Moderate Buy."

Channel Wealth LLC bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,438 shares of the ride-sharing company's stock, valued at approximately $3,959,000. Uber Technologies accounts for 1.1% of Channel Wealth LLC's holdings, making the stock its 27th largest holding.

Other large investors have also modified their holdings of the company. UMB Bank n.a. raised its stake in shares of Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after acquiring an additional 3,073 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Uber Technologies by 805.4% during the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after acquiring an additional 91,362 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares in the last quarter. Davis Investment Partners LLC bought a new stake in shares of Uber Technologies during the second quarter valued at approximately $435,000. Finally, GK Wealth Management LLC bought a new stake in shares of Uber Technologies during the first quarter valued at approximately $234,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

UBER has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Barclays reaffirmed an "overweight" rating and set a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Needham & Company LLC boosted their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Susquehanna boosted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $97.97 on Wednesday. The firm has a 50 day moving average of $92.67 and a 200 day moving average of $84.96. The company has a market capitalization of $204.31 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $99.70.

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

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total transaction of $296,875.00. Following the transaction, the insider directly owned 170,269 shares of the company's stock, valued at approximately $16,175,555. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction 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 transaction, the senior vice president directly owned 416,222 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 348,696 shares of company stock valued at $33,243,774. Corporate insiders own 3.70% 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.

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