Uber Technologies, Inc. $UBER is MFG Wealth Management Inc.'s 8th Largest Position

Key Points

• MFG Wealth Management Inc. has increased its holdings in Uber Technologies by 12.6%, making Uber its 8th largest position in the portfolio, valued at approximately $3.42 million.
• Analysts have mixed opinions on Uber, with price targets ranging from $84.00 to $115.00; the company holds a consensus rating of Moderate Buy with a target price of $103.06.
• In its latest earnings report, Uber surpassed expectations with an EPS of $0.63 and revenue of $12.65 billion, reflecting an 18.2% increase year-over-year.

MFG Wealth Management Inc. increased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,633 shares of the ride-sharing company's stock after purchasing an additional 4,100 shares during the quarter. Uber Technologies makes up 2.9% of MFG Wealth Management Inc.'s portfolio, making the stock its 8th biggest holding. MFG Wealth Management Inc.'s holdings in Uber Technologies were worth $3,418,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after buying an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after buying an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in Uber Technologies during the 4th quarter valued at approximately $395,000. Bison Wealth LLC grew its holdings in Uber Technologies by 20.3% during the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after buying an additional 641 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in Uber Technologies by 52.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 76,618 shares of the ride-sharing company's stock valued at $4,622,000 after buying an additional 26,197 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

UBER has been the subject of several research analyst reports. Bank of America raised their price target on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wedbush cut their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and issued a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price objective on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Trading Up 3.0%

Shares of NYSE UBER opened at $98.79 on Tuesday. 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 business has a fifty day simple moving average of $92.66 and a two-hundred day simple moving average of $84.87. The firm has a market cap of $206.02 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $98.86.

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. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the business posted $0.47 EPS. The business's revenue was up 18.2% compared to the same quarter last year. Analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction 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 transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,696 shares of company stock valued at $4,632,774 in the last 90 days. Corporate insiders own 3.70% of the company's stock.

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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