Cornerstone Wealth Group LLC Buys 23,031 Shares of Uber Technologies, Inc. $UBER

Cornerstone Wealth Group LLC increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 37.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,266 shares of the ride-sharing company’s stock after acquiring an additional 23,031 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Uber Technologies were worth $7,862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UBER. West Oak Capital LLC purchased a new stake in Uber Technologies during the second quarter valued at $28,000. Trust Co. of Toledo NA OH purchased a new stake in Uber Technologies during the second quarter valued at $30,000. Vision Financial Markets LLC purchased a new stake in Uber Technologies during the first quarter valued at $27,000. Truvestments Capital LLC raised its stake in 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 purchasing an additional 339 shares in the last quarter. Finally, REAP Financial Group LLC raised its stake in Uber Technologies by 158.2% during the second quarter. REAP Financial Group LLC now owns 408 shares of the ride-sharing company’s stock valued at $38,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Up 0.8%

UBER stock opened at $94.14 on Tuesday. The company has a market capitalization of $196.32 billion, a PE ratio of 16.04 and a beta of 1.48. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The firm’s 50-day moving average is $94.98 and its 200 day moving average is $88.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,821 shares of company stock worth $58,659,491 over the last ninety days. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

UBER has been the topic of a number of recent research reports. KeyCorp upped their price target 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. Barclays reaffirmed an “overweight” rating and set a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Needham & Company LLC increased their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Sanford C. Bernstein increased their target price on shares of Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.03.

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.