Modern Wealth Management LLC Makes New $1.58 Million Investment in Uber Technologies, Inc. $UBER

Key Points

• Modern Wealth Management LLC invested approximately $1.58 million to acquire 21,623 shares of Uber Technologies, Inc. in the first quarter.
• Uber Technologies reported a quarterly EPS of $0.63, exceeding the consensus estimate, with a revenue of $12.65 billion, marking an 18.2% increase year-over-year.
• Institutional investors now own 80.24% of Uber's stock, indicating significant institutional interest in the company.

Modern Wealth Management LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,623 shares of the ride-sharing company's stock, valued at approximately $1,575,000.

Several other institutional investors and hedge funds have also made changes to their positions in UBER. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies in the fourth quarter valued at approximately $27,000. Kozak & Associates Inc. boosted its holdings in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after acquiring an additional 299 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's 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 completion of the sale, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction 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. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,696 shares of company stock worth $4,632,774 in the last quarter. Insiders own 3.84% of the company's stock.

Uber Technologies Stock Up 1.3%

Shares of NYSE:UBER opened at $95.90 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $199.99 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71. The firm has a 50 day simple moving average of $92.62 and a 200 day simple moving average of $84.58.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on UBER shares. JPMorgan Chase & Co. increased their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. KeyCorp increased their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays reissued an "overweight" rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, Stifel Nicolaus increased their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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