MFG Wealth Management Inc. Sells 7,799 Shares of Uber Technologies, Inc. $UBER

MFG Wealth Management Inc. lowered its holdings in Uber Technologies, Inc. (NYSE:UBER) by 21.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,834 shares of the ride-sharing company’s stock after selling 7,799 shares during the period. Uber Technologies makes up about 2.1% of MFG Wealth Management Inc.’s portfolio, making the stock its 17th largest holding. MFG Wealth Management Inc.’s holdings in Uber Technologies were worth $2,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Uber Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after buying an additional 3,025,483 shares in the last quarter. Geode Capital Management LLC increased its stake in Uber Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after acquiring an additional 1,168,288 shares during the period. Pershing Square Capital Management L.P. bought a new position in Uber Technologies during the 1st quarter worth $2,207,743,000. Norges Bank acquired a new position in Uber Technologies in the 2nd quarter valued at $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC lifted its position in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. 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 5,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer directly owned 20,330 shares in the company, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $80.36, for a total value of $251,125.00. Following the transaction, the insider directly owned 175,423 shares in the company, valued at $14,096,992.28. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 264,875 shares of company stock valued at $26,458,818 over the last 90 days. 3.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $108.00 price target on shares of Uber Technologies in a research report on Wednesday, October 29th. Piper Sandler set a $107.00 price objective on shares of Uber Technologies in a research note on Wednesday, November 5th. Citigroup reissued a “market perform” rating on shares of Uber Technologies in a report on Wednesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 price target on shares of Uber Technologies in a report on Tuesday, November 4th. Finally, Wells Fargo & Company reduced their price target on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Uber Technologies Stock Up 0.8%

Shares of NYSE UBER opened at $79.81 on Friday. The company has a 50 day simple moving average of $90.34 and a 200 day simple moving average of $91.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. Uber Technologies, Inc. has a 1 year low of $59.75 and a 1 year high of $101.99. The firm has a market cap of $165.83 billion, a PE ratio of 10.26 and a beta of 1.19.

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