Alta Wealth Advisors LLC Acquires New Position in Uber Technologies, Inc. $UBER

Alta Wealth Advisors LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 12,031 shares of the ride-sharing company’s stock, valued at approximately $1,179,000.

Several other institutional investors have also recently added to or reduced their stakes in UBER. Foster Group Inc. raised its stake in Uber Technologies by 3.3% during the third quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock worth $330,000 after acquiring an additional 107 shares during the period. Sage Rhino Capital LLC grew its holdings in shares of Uber Technologies by 4.2% during the third quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock valued at $268,000 after purchasing an additional 110 shares during the last quarter. Quent Capital LLC raised its position in shares of Uber Technologies by 3.3% during the 3rd quarter. Quent Capital LLC now owns 3,504 shares of the ride-sharing company’s stock worth $343,000 after purchasing an additional 111 shares during the period. Emergent Wealth Advisors LLC raised its position in shares of Uber Technologies by 0.7% during the 3rd quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock worth $1,701,000 after purchasing an additional 114 shares during the period. Finally, Dumont & Blake Investment Advisors LLC lifted its holdings in shares of Uber Technologies by 1.3% in the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 8,975 shares of the ride-sharing company’s stock worth $879,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Activity

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $83.50, for a total transaction of $260,937.50. Following the completion of the sale, the insider directly owned 176,584 shares of the company’s stock, valued at approximately $14,744,764. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 14,875 shares of company stock worth $1,319,130. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays dropped their target price on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Susquehanna reaffirmed a “positive” rating and issued a $110.00 price objective on shares of Uber Technologies in a report on Wednesday, November 5th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Uber Technologies in a research report on Thursday, December 18th. Jefferies Financial Group reissued a “buy” rating on shares of Uber Technologies in a research note on Wednesday, January 7th. Finally, Melius Research set a $73.00 target price on shares of Uber Technologies in a research report on Monday, January 5th. Four research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $107.97.

Uber Technologies Trading Down 0.4%

Shares of NYSE:UBER opened at $81.96 on Tuesday. The company has a 50 day moving average of $84.45 and a 200-day moving average of $90.56. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a market cap of $170.30 billion, a P/E ratio of 10.53 and a beta of 1.20. Uber Technologies, Inc. has a twelve month low of $60.63 and a twelve month high of $101.99.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.