IMG Wealth Management Inc. Purchases New Holdings in Uber Technologies, Inc. $UBER

IMG Wealth Management Inc. purchased a new stake in Uber Technologies, Inc. (NYSE:UBER) in the second quarter, HoldingsChannel reports. The firm purchased 1,604 shares of the ride-sharing company’s stock, valued at approximately $150,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after acquiring an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after acquiring an additional 6,129 shares during the last quarter. Bison Wealth LLC boosted its stake in Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after acquiring an additional 641 shares during the last quarter. GAMMA Investing LLC boosted its stake in Uber Technologies by 319.6% in the first quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company’s stock valued at $1,658,000 after acquiring an additional 17,330 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Uber Technologies by 44.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company’s stock valued at $15,825,000 after acquiring an additional 66,783 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent research reports. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Thursday, August 7th. Bank of America raised their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. KeyCorp raised their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a research note on Tuesday, October 14th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.68.

Insiders Place Their Bets

In related news, insider Tony West sold 3,125 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $93.00, for a total value of $290,625.00. Following the sale, the insider directly owned 172,846 shares of the company’s stock, valued at approximately $16,074,678. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 604,946 shares of company stock worth $58,950,116 in the last ninety days. 3.70% of the stock is owned by insiders.

Uber Technologies Trading Up 1.5%

Shares of NYSE UBER opened at $93.73 on Tuesday. The company’s fifty day moving average is $95.28 and its 200-day moving average is $88.93. The stock has a market cap of $195.46 billion, a price-to-earnings ratio of 15.97 and a beta of 1.48. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER) last announced 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 company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.