Mainstream Capital Management LLC Buys New Position in Uber Technologies, Inc. $UBER

Mainstream Capital Management LLC purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 11,694 shares of the ride-sharing company’s stock, valued at approximately $1,146,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC grew its position in shares of Uber Technologies by 9.8% in the 3rd quarter. Merit Financial Group LLC now owns 70,110 shares of the ride-sharing company’s stock worth $6,869,000 after acquiring an additional 6,234 shares in the last quarter. Marietta Wealth Management LLC boosted its position in shares of Uber Technologies by 24.5% during the third quarter. Marietta Wealth Management LLC now owns 62,203 shares of the ride-sharing company’s stock worth $6,094,000 after buying an additional 12,254 shares during the period. Aljian Capital Management LLC grew its stake in shares of Uber Technologies by 2.2% in the third quarter. Aljian Capital Management LLC now owns 17,775 shares of the ride-sharing company’s stock worth $1,741,000 after purchasing an additional 386 shares in the last quarter. Sax Wealth Advisors LLC raised its position in shares of Uber Technologies by 7.1% during the 3rd quarter. Sax Wealth Advisors LLC now owns 10,046 shares of the ride-sharing company’s stock worth $984,000 after buying an additional 668 shares in the last quarter. Finally, Smith Salley Wealth Management lifted its position in Uber Technologies by 7.2% in the third quarter. Smith Salley Wealth Management now owns 2,642 shares of the ride-sharing company’s stock worth $259,000 after purchasing an additional 178 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Up 0.7%

NYSE UBER opened at $82.11 on Wednesday. Uber Technologies, Inc. has a twelve month low of $60.17 and a twelve month high of $101.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $170.61 billion, a PE ratio of 10.55 and a beta of 1.19. The firm has a 50-day simple moving average of $88.36 and a 200 day simple moving average of $91.47.

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

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the transaction, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 3,125 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $80.36, for a total value of $251,125.00. Following the sale, the insider owned 175,423 shares of the company’s stock, valued at approximately $14,096,992.28. The trade was a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,875 shares of company stock worth $1,348,818 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup reiterated a “market perform” rating on shares of Uber Technologies in a report on Wednesday, December 10th. Cowen restated a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Tuesday, October 28th. Stifel Nicolaus set a $122.00 price target on Uber Technologies in a report on Tuesday, November 4th. Finally, Piper Sandler set a $107.00 target price on Uber Technologies in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $108.43.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.