Range Financial Group LLC Makes New $587,000 Investment in Uber Technologies, Inc. $UBER

Key Points

• Range Financial Group LLC has invested $587,000 in Uber Technologies, purchasing 6,288 shares of the company in the second quarter.
• The stock has been given a consensus rating of “Moderate Buy” by analysts, with a target price averaging around $103.06.
• Despite recent insider sales, 80.24% of Uber's stock is owned by institutional investors and hedge funds, indicating strong institutional support.

Range Financial Group LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 6,288 shares of the ride-sharing company's stock, valued at approximately $587,000.

Other hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in Uber Technologies during the 4th quarter worth approximately $27,000. Kozak & Associates Inc. lifted its holdings in shares of 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 during the period. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UBER shares. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price target (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Stifel Nicolaus raised their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Roth Capital lifted their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Piper Sandler lifted their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Barclays reaffirmed an "overweight" rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Stock Performance

Uber Technologies stock opened at $98.79 on Tuesday. 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 stock has a fifty day moving average of $92.66 and a two-hundred day moving average of $84.87. The company has a market capitalization of $206.02 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.10 and a beta of 1.43. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $98.86.

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

Insider Buying and Selling

In other news, insider Tony West sold 3,125 shares of Uber Technologies 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 completion of the sale, the insider owned 170,269 shares of the company's stock, valued at $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies 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 sale, the senior vice president directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 48,696 shares of company stock worth $4,632,774. 3.70% of the stock is currently owned by corporate insiders.

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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