Drive Wealth Management LLC Has $465,000 Holdings in Uber Technologies, Inc. $UBER

Drive Wealth Management LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,986 shares of the ride-sharing company’s stock after selling 235 shares during the quarter. Drive Wealth Management LLC’s holdings in Uber Technologies were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. West Oak Capital LLC bought a new stake in Uber Technologies during the 2nd quarter worth approximately $28,000. Truvestments Capital LLC increased its position in Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after acquiring an additional 339 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of Uber Technologies during the second quarter valued at $30,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Uber Technologies during the first quarter worth $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

Uber Technologies stock opened at $93.73 on Tuesday. The stock’s 50 day moving average price is $95.28 and its two-hundred day moving average price is $88.93. The stock has a market capitalization of $195.46 billion, a price-to-earnings ratio of 15.97 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. On average, equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 604,946 shares of company stock worth $58,950,116 in the last quarter. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on UBER shares. JPMorgan Chase & Co. increased their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Morgan Stanley restated an “overweight” rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. UBS Group lifted their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wedbush decreased their target price on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Finally, BMO Capital Markets boosted their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $105.68.

Uber Technologies Company 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.