Sheets Smith Wealth Management Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Sheets Smith Wealth Management bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the 4th quarter, Holdings Channel reports. The institutional investor bought 61,425 shares of the ride-sharing company’s stock, valued at approximately $3,705,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kieckhefer Group LLC purchased a new stake in shares of Uber Technologies during the fourth quarter valued at $33,000. Retirement Wealth Solutions LLC purchased a new stake in Uber Technologies during the 4th quarter valued at about $35,000. Financial Management Professionals Inc. increased its holdings in shares of Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. Transcendent Capital Group LLC raised its stake in shares of Uber Technologies by 3,928.6% in the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 550 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Uber Technologies by 84.7% during the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 276 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of recent research reports. Truist Financial reduced their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. JMP Securities lowered Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Thursday, January 2nd. BMO Capital Markets restated an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. Finally, Raymond James assumed coverage on Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target for the company. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Price Performance

Shares of UBER opened at $67.75 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a market cap of $142.66 billion, a P/E ratio of 33.71, a PEG ratio of 0.72 and a beta of 1.36. The firm’s 50 day moving average price is $66.16 and its 200 day moving average price is $70.33.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. On average, research analysts forecast that Uber Technologies, Inc. will post 1.91 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by corporate insiders.

About Uber Technologies

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.