Miracle Mile Advisors LLC Acquires 16,434 Shares of Uber Technologies, Inc. $UBER

Miracle Mile Advisors LLC lifted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 35.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,392 shares of the ride-sharing company’s stock after purchasing an additional 16,434 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Uber Technologies were worth $6,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of UBER. Westend Capital Management LLC bought a new position in Uber Technologies during the 3rd quarter valued at about $27,000. Kilter Group LLC bought a new stake in shares of Uber Technologies in the second quarter worth approximately $26,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $30,000. Finally, Total Investment Management Inc. bought a new position in Uber Technologies during the second quarter valued at approximately $32,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Stock Down 0.6%

NYSE UBER opened at $81.66 on Friday. Uber Technologies, Inc. has a 52 week low of $60.17 and a 52 week high of $101.99. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $169.68 billion, a P/E ratio of 10.50 and a beta of 1.21. The stock’s 50-day moving average price is $87.89 and its 200-day moving average price is $91.33.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same period in the previous year, the company posted $1.20 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Tony West sold 3,125 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $80.36, for a total value of $251,125.00. Following the completion of the transaction, the insider owned 175,423 shares of the company’s stock, valued at approximately $14,096,992.28. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. The trade was a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 14,875 shares of company stock valued at $1,348,818. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UBER. Wells Fargo & Company cut their target price on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. TD Cowen lifted their price objective on Uber Technologies from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Barclays reduced their price objective on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Truist Financial raised their target price on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Erste Group Bank downgraded Uber Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.82.

Uber Technologies Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.