Gradient Investments LLC Buys Shares of 189,421 Uber Technologies, Inc. $UBER

Key Points

• Gradient Investments LLC purchased 189,421 shares of Uber Technologies, Inc. for approximately $17.67 million during the second quarter.
• A number of institutional investors, including GK Wealth Management and RF&L Wealth Management, also made significant purchases, indicating growing interest in Uber as they now own 80.24% of the company's stock.
• Uber reported a quarterly earnings per share (EPS) of $0.63, exceeding analysts' expectations, and its revenue of $12.65 billion reflects an 18.2% year-over-year increase.

Gradient Investments LLC bought a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 189,421 shares of the ride-sharing company's stock, valued at approximately $17,673,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. GK Wealth Management LLC grew its stake in Uber Technologies by 46.7% in the second quarter. GK Wealth Management LLC now owns 5,006 shares of the ride-sharing company's stock valued at $467,000 after purchasing an additional 1,593 shares in the last quarter. RF&L Wealth Management LLC purchased a new position in Uber Technologies in the second quarter valued at about $233,000. Vishria Bird Financial Group LLC purchased a new position in Uber Technologies in the second quarter valued at about $225,000. Pacific Capital Partners Ltd bought a new stake in shares of Uber Technologies during the 2nd quarter worth about $1,320,000. Finally, Modus Advisors LLC boosted its stake in shares of Uber Technologies by 1.2% during the 2nd quarter. Modus Advisors LLC now owns 67,418 shares of the ride-sharing company's stock worth $6,290,000 after acquiring an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the transaction, the insider directly owned 170,269 shares in the company, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares in the company, valued at $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. Insiders have sold a total of 48,696 shares of company stock valued at $4,632,774 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Uber Technologies Trading Up 1.3%

Uber Technologies stock opened at $95.90 on Monday. The business has a 50 day moving average price of $92.62 and a two-hundred day moving average price of $84.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $199.99 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler upped their price target on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets upped their price target on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Sanford C. Bernstein upped their price target on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Cantor Fitzgerald reiterated 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. Finally, KeyCorp upped their price target on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Company 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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