Cornerstone Wealth Group LLC Acquires 23,031 Shares of Uber Technologies, Inc. $UBER

Cornerstone Wealth Group LLC boosted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 37.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,266 shares of the ride-sharing company’s stock after acquiring an additional 23,031 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Uber Technologies were worth $7,862,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UBER. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies during the first quarter valued at approximately $27,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $28,000. Truvestments Capital LLC raised its holdings in shares of Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 339 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $30,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Uber Technologies during the first quarter valued at approximately $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

UBER opened at $94.14 on Tuesday. The firm has a market cap of $196.32 billion, a P/E ratio of 16.04 and a beta of 1.48. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a 50 day simple moving average of $94.98 and a two-hundred day simple moving average of $88.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 601,821 shares of company stock valued at $58,659,491. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

UBER has been the subject of several research reports. Cowen reissued a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Mizuho started coverage on shares of Uber Technologies in a report on Monday, September 29th. They set an “outperform” rating and a $130.00 target price for the company. KeyCorp upped their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Wells Fargo & Company reduced their target price on shares of Uber Technologies from $127.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.03.

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.