Independent Wealth Network Inc. Makes New $212,000 Investment in Uber Technologies, Inc. (NYSE:UBER)

Independent Wealth Network Inc. bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,915 shares of the ride-sharing company's stock, valued at approximately $212,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of 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 during the period. Revolve Wealth Partners LLC grew its holdings 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 worth $939,000 after buying an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Uber Technologies during the fourth quarter worth about $395,000. Royal London Asset Management Ltd. grew its holdings in shares of Uber Technologies by 3.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 874,823 shares of the ride-sharing company's stock worth $52,769,000 after buying an additional 29,038 shares in the last quarter. Finally, Sandy Spring Bank grew its holdings in shares of Uber Technologies by 24.1% during the fourth quarter. Sandy Spring Bank now owns 39,617 shares of the ride-sharing company's stock worth $2,390,000 after buying an additional 7,702 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp boosted their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. TD Cowen lowered their target price on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group boosted their target price on shares of Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Twelve research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.63.

Uber Technologies Price Performance

Shares of NYSE:UBER traded up $0.07 during trading hours on Friday, hitting $90.57. 14,207,666 shares of the company's stock traded hands, compared to its average volume of 21,184,622. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $97.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The company's fifty day simple moving average is $89.22 and its two-hundred day simple moving average is $78.58. The company has a market cap of $189.40 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40.

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

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.