Elmwood Wealth Management Inc. Invests $549,000 in Uber Technologies, Inc. (NYSE:UBER)

Elmwood Wealth Management Inc. purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,298 shares of the ride-sharing company’s stock, valued at approximately $549,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Fiduciary Alliance LLC purchased a new position in shares of Uber Technologies during the third quarter valued at approximately $644,000. ORG Partners LLC lifted its stake in shares of Uber Technologies by 142.9% during the 3rd quarter. ORG Partners LLC now owns 651 shares of the ride-sharing company’s stock worth $49,000 after acquiring an additional 383 shares during the last quarter. Sapient Capital LLC boosted its holdings in Uber Technologies by 43.0% during the 3rd quarter. Sapient Capital LLC now owns 35,967 shares of the ride-sharing company’s stock valued at $2,703,000 after acquiring an additional 10,808 shares during the period. Procyon Advisors LLC grew its position in Uber Technologies by 2.1% in the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock valued at $476,000 after acquiring an additional 131 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Uber Technologies by 8.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,466 shares of the ride-sharing company’s stock worth $336,000 after purchasing an additional 350 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Oppenheimer upped their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Wolfe Research assumed coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They set an “outperform” rating and a $90.00 price target for the company. Loop Capital increased their price objective on Uber Technologies from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, JMP Securities lifted their target price on Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $88.11.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Performance

Shares of UBER stock traded down $1.04 during mid-day trading on Monday, reaching $85.30. The stock had a trading volume of 8,139,413 shares, compared to its average volume of 18,029,139. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $87.00. The firm has a market cap of $178.24 billion, a price-to-earnings ratio of 136.71, a PEG ratio of 1.35 and a beta of 1.33. The business’s fifty day moving average is $72.65 and its 200-day moving average is $70.45.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. Uber Technologies’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. On average, research analysts forecast that Uber Technologies, Inc. will post 1.08 earnings per share for the current year.

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.