Stratos Wealth Partners LTD. Raises Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Stratos Wealth Partners LTD. increased its stake in Uber Technologies, Inc. by 24.2% during the second quarter, owning 94,674 shares worth approximately $8.83 million.
• Several institutional investors have recently bought stakes in Uber, leading to 80.24% of the stock being held by such entities, indicating strong institutional interest in the company.
• Analysts have raised their price targets for Uber, with UBS setting a new target of $117.00, contributing to a consensus target price of $105.68 and a general rating of "Moderate Buy."

Stratos Wealth Partners LTD. grew its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,674 shares of the ride-sharing company's stock after purchasing an additional 18,468 shares during the period. Stratos Wealth Partners LTD.'s holdings in Uber Technologies were worth $8,833,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of UBER. Vision Financial Markets LLC purchased a new stake in Uber Technologies during the first quarter worth about $27,000. West Oak Capital LLC purchased a new stake in Uber Technologies during the second quarter worth about $28,000. Truvestments Capital LLC increased its stake in Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 339 shares during the period. Trust Co. of Toledo NA OH purchased a new stake in Uber Technologies during the second quarter worth about $30,000. Finally, Ransom Advisory Ltd purchased a new stake in Uber Technologies during the first quarter worth about $31,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group boosted their price target on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Sanford C. Bernstein boosted their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Cowen reissued a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $105.68.

Insider Transactions at Uber Technologies

In other news, 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 value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer directly owned 22,528 shares of the company's stock, valued at $2,239,733.76. The trade was a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock valued at $58,659,491 over the last three months. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Performance

Shares of UBER opened at $92.29 on Friday. The stock has a 50 day moving average price of $95.22 and a 200 day moving average price of $88.50. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $192.47 billion, a price-to-earnings ratio of 15.72 and a beta of 1.48. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly 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. The firm 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%.The firm's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. Research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Uber Technologies Company 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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