Worth Asset Management LLC Grows Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Worth Asset Management LLC increased its stake in Uber Technologies by 104.8% during the second quarter, owning 6,146 shares worth approximately $573,000.
• Analysts have raised their price targets for Uber, with BMO Capital Markets setting a new target of $113.00 and multiple firms giving the stock ratings such as "outperform" and "buy."
• Uber's recent quarterly earnings surpassed expectations, reporting $12.65 billion in revenue and $0.63 earnings per share, indicating a year-over-year revenue increase of 18.2%.

Worth Asset Management LLC boosted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 104.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,146 shares of the ride-sharing company's stock after buying an additional 3,145 shares during the period. Worth Asset Management LLC's holdings in Uber Technologies were worth $573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies in the 1st quarter valued at about $27,000. Kozak & Associates Inc. raised its stake in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the period. Vision Financial Markets LLC bought a new position in Uber Technologies during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC increased its position in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares during the period. Finally, Perkins Coie Trust Co increased its position in shares of Uber Technologies by 306.0% in the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 306 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Buying and Selling

In other news, insider Tony West sold 3,125 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the sale, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,571 shares of company stock valued at $33,810,741 over the last 90 days. 3.70% of the stock is owned by insiders.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded up $0.97 during trading hours on Monday, hitting $99.48. The company's stock had a trading volume of 29,803,408 shares, compared to its average volume of 17,522,252. The business has a 50 day moving average price of $92.74 and a two-hundred day moving average price of $85.61. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The company has a market cap of $207.47 billion, a PE ratio of 16.95 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping 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 company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. Analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on UBER shares. JPMorgan Chase & Co. raised their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Susquehanna boosted their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Bank of America upped their price target on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays reissued an "overweight" rating and issued a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Finally, Wells Fargo & Company upped their price target on Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

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.