Sax Wealth Advisors LLC Buys 2,626 Shares of Uber Technologies, Inc. $UBER

Key Points

• Sax Wealth Advisors LLC increased its stake in Uber Technologies by 46.6%, acquiring an additional 2,626 shares and bringing its total holdings to 8,261 shares valued at approximately $602,000.
• Multiple institutional investors have also made significant adjustments to their stakes in Uber, with overall institutional ownership now at 80.24% of the company's stock.
• Uber reported quarterly earnings of $0.63 EPS, exceeding analysts' expectations, with revenues totaling $12.65 billion, indicating an 18.2% year-over-year increase.

Sax Wealth Advisors LLC lifted its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 46.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,261 shares of the ride-sharing company's stock after acquiring an additional 2,626 shares during the period. Sax Wealth Advisors LLC's holdings in Uber Technologies were worth $602,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Leslie Global Wealth LLC bought a new stake in shares of Uber Technologies during the first quarter worth $208,000. Allstate Corp increased its position in shares of Uber Technologies by 22.7% during the first quarter. Allstate Corp now owns 68,623 shares of the ride-sharing company's stock worth $5,000,000 after acquiring an additional 12,692 shares in the last quarter. Purus Wealth Management LLC bought a new stake in shares of Uber Technologies during the first quarter worth $284,000. Circle Wealth Management LLC increased its position in shares of Uber Technologies by 3.2% during the first quarter. Circle Wealth Management LLC now owns 30,260 shares of the ride-sharing company's stock worth $2,205,000 after acquiring an additional 942 shares in the last quarter. Finally, Monetary Management Group Inc. increased its position in shares of Uber Technologies by 35.6% during the first quarter. Monetary Management Group Inc. now owns 14,115 shares of the ride-sharing company's stock worth $1,028,000 after acquiring an additional 3,705 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER stock opened at $96.7020 on Friday. The stock has a market cap of $201.66 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.11 and a beta of 1.43. 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 has a fifty day moving average price of $91.08 and a two-hundred day moving average price of $82.93. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71.

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

Analyst Ratings Changes

UBER has been the subject of several research reports. Citigroup increased their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. KeyCorp raised their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. BMO Capital Markets raised their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Finally, Bank of America raised their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.84% of the company's stock.

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.

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