Accurate Wealth Management LLC Increases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Accurate Wealth Management LLC raised its holdings in Uber Technologies, Inc. (NYSE:UBER) by 10.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,358 shares of the ride-sharing company’s stock after purchasing an additional 526 shares during the period. Accurate Wealth Management LLC’s holdings in Uber Technologies were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of UBER. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after buying an additional 52,125,476 shares during the period. Norges Bank purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $1,467,754,000. Boston Partners purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $381,057,000. Toyota Motor Corp purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $309,192,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $298,644,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UBER. Wells Fargo & Company upped their price target on shares of Uber Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Truist Financial upped their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays upped their price target on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Twelve research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.91.

Uber Technologies Price Performance

UBER opened at $86.43 on Wednesday. The company has a fifty day simple moving average of $80.96 and a 200 day simple moving average of $73.71. The firm has a market cap of $180.73 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.89 and a beta of 1.38. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned ($0.32) EPS. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This trade represents a 5.24% 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 23,404 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 83,788 shares of company stock valued at $6,517,070. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies 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.