Uber Technologies, Inc. (NYSE:UBER) Shares Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its stake in Uber Technologies, Inc. (NYSE:UBER) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,345 shares of the ride-sharing company’s stock after purchasing an additional 3,746 shares during the period. Cornerstone Wealth Group LLC’s holdings in Uber Technologies were worth $4,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. raised its stake in Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Uber Technologies in the 1st quarter valued at about $32,000. Founders Capital Management acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at about $33,000. YHB Investment Advisors Inc. acquired a new position in Uber Technologies during the first quarter worth approximately $37,000. Finally, Bfsg LLC purchased a new stake in Uber Technologies in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Up 1.4 %

NYSE:UBER traded up $0.99 during mid-day trading on Friday, reaching $74.30. The stock had a trading volume of 13,041,319 shares, compared to its average volume of 18,829,721. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $155.25 billion, a price-to-earnings ratio of 118.23, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The stock’s 50 day simple moving average is $69.20 and its two-hundred day simple moving average is $71.35.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies, Inc. will post 1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of research reports. DA Davidson raised their target price on shares of Uber Technologies from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on shares of Uber Technologies from $91.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Jefferies Financial Group reduced their target price on shares of Uber Technologies from $103.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. JMP Securities raised their price target on Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Insider Buying and Selling at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Tony West sold 28,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the sale, the insider now owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,234 shares of company stock worth $44,017,734. 3.84% of the stock is owned by insiders.

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.