Portside Wealth Group LLC Purchases 2,887 Shares of Uber Technologies, Inc. $UBER

Portside Wealth Group LLC raised its position in Uber Technologies, Inc. (NYSE:UBER) by 78.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,561 shares of the ride-sharing company’s stock after buying an additional 2,887 shares during the period. Portside Wealth Group LLC’s holdings in Uber Technologies were worth $612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vision Financial Markets LLC acquired a new stake in Uber Technologies during the 1st quarter worth approximately $27,000. West Oak Capital LLC bought a new position in shares of Uber Technologies during the second quarter valued at $28,000. Truvestments Capital LLC raised its stake 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 acquiring an additional 339 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Uber Technologies during the second quarter worth $30,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Uber Technologies in the first quarter worth $31,000. 80.24% of the stock is currently owned by institutional investors.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the transaction, the chief executive officer owned 982,544 shares in the company, valued at approximately $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the sale, the chief financial officer owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 602,000 shares of company stock valued at $58,695,660. 3.70% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Performance

Shares of UBER stock opened at $90.92 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The firm has a 50 day moving average of $95.37 and a 200-day moving average of $91.94. The company has a market cap of $188.92 billion, a price-to-earnings ratio of 11.69 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on UBER shares. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Truist Financial lifted their price objective on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $108.26.

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.