GC Wealth Management RIA LLC Purchases 29,974 Shares of Uber Technologies, Inc. $UBER

Key Points

• GC Wealth Management RIA LLC significantly increased its holdings in Uber Technologies, purchasing 29,974 shares during the second quarter, raising its total ownership to 34,095 shares valued at approximately $3.18 million.
• Institutional investors currently hold 80.24% of Uber Technologies' stock, with notable increases in stakes from several firms, including a 334,075.7% increase from Kingstone Capital Partners.
• Several analysts have raised their price targets for Uber Technologies, with Roth Capital and Sanford C. Bernstein both setting targets of $110.00, indicating a strong outlook for the company's shares.

GC Wealth Management RIA LLC increased its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 727.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,095 shares of the ride-sharing company's stock after acquiring an additional 29,974 shares during the period. GC Wealth Management RIA LLC's holdings in Uber Technologies were worth $3,181,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies during the first quarter valued at approximately $2,207,743,000. Kingstone Capital Partners Texas LLC grew its position in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Pacer Advisors Inc. grew its position in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after acquiring an additional 6,254,898 shares during the period. Vanguard Group Inc. grew its position in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Finally, Boston Partners grew its position in shares of Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after acquiring an additional 2,749,456 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares of the company's stock, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm'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 directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,571 shares of company stock valued at $58,920,741 over the last 90 days. 3.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UBER has been the subject of several recent research reports. Roth Capital boosted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. Sanford C. Bernstein boosted their price objective on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Morgan Stanley reiterated an "overweight" rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Royal Bank Of Canada boosted their price objective on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus price target of $103.30.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $98.37 on Monday. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $93.29 and a 200 day moving average of $86.36. The firm has a market cap of $205.14 billion, a PE ratio of 16.76 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the business earned $0.47 earnings per share. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.

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