Sagace Wealth Management LLC Invests $202,000 in Uber Technologies, Inc. (NYSE:UBER)

Sagace Wealth Management LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 2,777 shares of the ride-sharing company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Allworth Financial LP lifted its holdings in Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock valued at $24,280,000 after buying an additional 399,008 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock worth $890,000 after buying an additional 3,073 shares in the last quarter. MFG Wealth Management Inc. acquired a new position in Uber Technologies during the fourth quarter worth about $1,997,000. Finally, TigerOak Management L.L.C. purchased a new stake in Uber Technologies during the 4th quarter valued at about $1,278,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the sale, the insider now directly owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,384 shares of company stock valued at $4,872,471 over the last 90 days. 3.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on UBER shares. JPMorgan Chase & Co. boosted their target price on Uber Technologies from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Barclays boosted their price objective on Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Loop Capital reaffirmed a “buy” rating and issued a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Wedbush cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $80.00 to $85.00 in a research report on Thursday, May 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a report on Monday, May 5th. Twelve equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $94.39.

Uber Technologies Stock Performance

Uber Technologies stock opened at $86.53 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $93.60. The company has a fifty day moving average price of $81.40 and a two-hundred day moving average price of $73.80. The company has a market cap of $180.94 billion, a PE ratio of 18.98, a P/E/G ratio of 0.89 and a beta of 1.38.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. Research analysts expect that Uber Technologies, Inc. will post 2.54 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.