McGlone Suttner Wealth Management Inc. Purchases New Stake in Uber Technologies, Inc. $UBER

Key Points

• McGlone Suttner Wealth Management Inc. acquired 2,671 shares of Uber Technologies Inc. worth approximately $249,000 in the second quarter, as revealed in their latest SEC filing.
• Insider trading included significant sales by Jill Hazelbaker and Nikki Krishnamurthy, with a total of 354,571 shares sold, amounting to about $33.8 million over the last quarter.
• Analysts have set a consensus price target of $103.06 for Uber's stock, with most ratings leaning towards "buy" or "overweight."

McGlone Suttner Wealth Management Inc. purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,671 shares of the ride-sharing company's stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Noble Wealth Management PBC bought a new position in Uber Technologies during the first quarter worth about $27,000. Kozak & Associates Inc. grew its holdings in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC lifted its position in shares of Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co raised its position in Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock valued at $30,000 after purchasing an additional 306 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 354,571 shares of company stock valued at $33,810,741. Company insiders own 3.70% of the company's stock.

Uber Technologies Stock Performance

Shares of NYSE UBER traded up $0.97 during trading hours on Monday, hitting $99.48. 29,803,408 shares of the stock were exchanged, compared to its average volume of 17,522,252. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50 day moving average is $92.74 and its 200 day moving average is $85.61. The firm has a market capitalization of $207.47 billion, a P/E ratio of 16.95 and a beta of 1.43. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on UBER shares. Wells Fargo & Company upped their target price on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. KeyCorp raised their price objective on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Bank of America raised their price target on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets raised their price target on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Piper Sandler boosted their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

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.