Three Bridge Wealth Advisors LLC Acquires Shares of 3,701 Uber Technologies, Inc. $UBER

Key Points

• Three Bridge Wealth Advisors LLC has acquired 3,701 shares of Uber Technologies, valued at approximately $345,000, indicating growing institutional interest in the ride-sharing company.
• Uber's CEO Dara Khosrowshahi recently sold 150,000 shares, reducing his stake by 13.24%, while insider selling has totaled over $58 million in the last 90 days.
• Several research firms have upgraded Uber's price targets, with Piper Sandler raising it to $103, and KeyCorp increasing it to $110, reflecting a positive outlook from analysts.

Three Bridge Wealth Advisors LLC bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 3,701 shares of the ride-sharing company's stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kozak & Associates Inc. grew its holdings in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC purchased a new position in Uber Technologies in the first quarter valued at about $27,000. Vision Financial Markets LLC bought a new position in Uber Technologies during the 1st quarter worth approximately $27,000. West Oak Capital LLC bought a new stake in shares of Uber Technologies in the 2nd quarter worth approximately $28,000. Finally, GPS Wealth Strategies Group LLC increased its position in 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 acquiring an additional 299 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer owned 982,544 shares of the company's stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony West sold 100,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider directly owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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

Several research firms have recently weighed in on UBER. Piper Sandler raised their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. KeyCorp boosted their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Wedbush dropped their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Sanford C. Bernstein increased their target price on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Two analysts have 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's stock. According to MarketBeat, Uber Technologies has an average rating of "Moderate Buy" and a consensus price target of $104.03.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $96.53 on Friday. The firm has a market cap of $201.30 billion, a PE ratio of 16.44 and a beta of 1.48. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. 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's fifty day simple moving average is $93.93 and its two-hundred day simple moving average is $87.14.

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, topping analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates 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 was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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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