Purus Wealth Management LLC Makes New Investment in Uber Technologies, Inc. $UBER

Key Points

• Purus Wealth Management LLC has acquired a new position in Uber Technologies, purchasing 3,896 shares valued at approximately $284,000 during the first quarter.
• Recent research has seen analysts setting a consensus target price of $102.82 for Uber, with a majority rating the stock as a "buy."
• Uber Technologies reported $0.63 earnings per share in its latest earnings release, exceeding expectations and reflecting an 18.2% increase in revenue year-over-year.

Purus Wealth Management LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,896 shares of the ride-sharing company's stock, valued at approximately $284,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Circle Wealth Management LLC increased its position in Uber Technologies by 3.2% during the 1st quarter. Circle Wealth Management LLC now owns 30,260 shares of the ride-sharing company's stock worth $2,205,000 after purchasing an additional 942 shares during the period. Monetary Management Group Inc. increased its position in Uber Technologies by 35.6% during the 1st quarter. Monetary Management Group Inc. now owns 14,115 shares of the ride-sharing company's stock worth $1,028,000 after purchasing an additional 3,705 shares during the period. Compound Planning Inc. increased its position in Uber Technologies by 15.4% during the 1st quarter. Compound Planning Inc. now owns 40,499 shares of the ride-sharing company's stock worth $2,951,000 after purchasing an additional 5,394 shares during the period. Norinchukin Bank The increased its position in Uber Technologies by 18.4% during the 1st quarter. Norinchukin Bank The now owns 139,690 shares of the ride-sharing company's stock worth $10,178,000 after purchasing an additional 21,728 shares during the period. Finally, CW Advisors LLC increased its position in Uber Technologies by 704.7% during the 1st quarter. CW Advisors LLC now owns 233,362 shares of the ride-sharing company's stock worth $17,005,000 after purchasing an additional 204,363 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the company'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 owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 directly owned 21,975 shares in the company, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Price Performance

UBER stock traded up $2.4720 on Friday, reaching $96.7020. The company had a trading volume of 15,568,337 shares, compared to its average volume of 18,899,732. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. 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's fifty day moving average is $91.08 and its 200 day moving average is $82.93. The company has a market cap of $201.66 billion, a P/E ratio of 16.47, a PEG ratio of 1.11 and a beta of 1.43.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on UBER shares. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Sanford C. Bernstein boosted their target price on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Citigroup boosted their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. UBS Group boosted their price target on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Susquehanna boosted their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies 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.