Diversify Wealth Management LLC Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Diversify Wealth Management LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 38,994 shares of the ride-sharing company’s stock, valued at approximately $2,834,000.

Several other institutional investors and hedge funds also recently bought and sold shares of UBER. Vanguard Group Inc. lifted its position in shares of Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares in the last quarter. Capital World Investors lifted its holdings in Uber Technologies by 0.7% during the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after purchasing an additional 283,802 shares in the last quarter. Capital Research Global Investors boosted its stake in Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after buying an additional 9,996,508 shares in the last quarter. Finally, Norges Bank purchased a new position in Uber Technologies during the 4th quarter valued at about $1,415,778,000. 80.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on UBER shares. Roth Mkm lifted their target price on Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup lifted their target price on Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 target price on shares of Uber Technologies in a report on Wednesday, August 7th. Melius Research started coverage on Uber Technologies in a report on Monday, July 22nd. They set a “hold” rating and a $77.00 target price for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $88.00 target price on shares of Uber Technologies in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.84% of the stock is owned by insiders.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $72.48 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a market cap of $152.28 billion, a PE ratio of 116.90, a P/E/G ratio of 1.21 and a beta of 1.33. The business has a 50 day moving average of $69.41 and a 200 day moving average of $70.94. Uber Technologies, Inc. has a 52 week low of $40.09 and a 52 week high of $82.14.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 1.06 earnings per share for the current year.

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.