Strait & Sound Wealth Management LLC Takes Position in Uber Technologies, Inc. $UBER

Key Points

• Strait & Sound Wealth Management LLC has acquired a new position in Uber Technologies, purchasing 4,864 shares valued at approximately $354,000.
• Several institutional investors have increased their stakes in Uber, with UMB Bank n.a. boosting its holdings by 33.6%, and Revolve Wealth Partners LLC increasing theirs by 65.0%.
• Recent analyses show a generally positive outlook for Uber, with analysts setting price targets ranging from $105.00 to $117.00, reflecting a strong buy sentiment.

Strait & Sound Wealth Management LLC bought a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,864 shares of the ride-sharing company's stock, valued at approximately $354,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Navalign LLC grew its stake in Uber Technologies by 0.5% in the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after purchasing an additional 126 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after buying an additional 133 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Uber Technologies by 1.3% in the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after buying an additional 136 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after buying an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC raised its position in Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Canaccord Genuity Group reiterated a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. BMO Capital Markets boosted their price target on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wedbush cut their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Finally, Tigress Financial set a $110.00 target price on Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Insider Activity

In related news, insider Tony West sold 3,125 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider directly owned 170,269 shares of the company's stock, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,696 shares of company stock worth $4,632,774. Insiders own 3.70% of the company's stock.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded down $1.21 on Wednesday, reaching $94.24. 15,936,344 shares of the company's stock were exchanged, compared to its average volume of 21,494,777. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The company has a fifty day moving average of $92.54 and a 200-day moving average of $84.30. The company has a market capitalization of $196.53 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.08 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion for 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%.The firm's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.