TCI Wealth Advisors Inc. Takes Position in Uber Technologies, Inc. $UBER

Key Points

• TCI Wealth Advisors Inc. has acquired 2,596 shares of Uber Technologies, valued at approximately $242,000, marking a new position for the institutional investor.
• Uber Technologies is experiencing strong interest from hedge funds, with several firms increasing their holdings, resulting in institutional investors owning 80.24% of the company's stock.
• The company's last quarterly earnings report revealed $12.65 billion in revenue, exceeding analyst expectations, alongside an increase in earnings per share to $0.63.

TCI Wealth Advisors Inc. acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,596 shares of the ride-sharing company's stock, valued at approximately $242,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares in the last quarter. Bison Wealth LLC raised its position in Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after purchasing an additional 641 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Uber Technologies in the fourth quarter valued at about $44,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Uber Technologies by 17.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 25,888 shares of the ride-sharing company's stock valued at $1,886,000 after purchasing an additional 3,781 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Trading Up 0.8%

NYSE UBER opened at $98.37 on Friday. The stock has a market capitalization of $205.14 billion, a P/E ratio of 16.76 and a beta of 1.43. The business has a 50 day simple moving average of $93.29 and a 200 day simple moving average of $86.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted 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 firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. Research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was 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 in the company, valued at $2,239,733.76. This trade represents a 10.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were 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 $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UBER. Raymond James Financial raised their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada increased their price objective on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.30.

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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