Rede Wealth LLC Purchases New Position in Uber Technologies, Inc. $UBER

Rede Wealth LLC acquired a new position in Uber Technologies, Inc. (NYSE:UBER) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 41,195 shares of the ride-sharing company’s stock, valued at approximately $4,036,000. Uber Technologies comprises approximately 3.2% of Rede Wealth LLC’s portfolio, making the stock its 8th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after buying an additional 2,474 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Bison Wealth LLC lifted its stake in shares of Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after purchasing an additional 641 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Uber Technologies by 15.1% in the 1st quarter. Baird Financial Group Inc. now owns 238,970 shares of the ride-sharing company’s stock worth $17,411,000 after purchasing an additional 31,336 shares during the period. Finally, Quarry LP increased its position in shares of Uber Technologies by 102.4% during the 1st quarter. Quarry LP now owns 1,769 shares of the ride-sharing company’s stock valued at $129,000 after purchasing an additional 895 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on UBER shares. BMO Capital Markets lowered their price target on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 target price on shares of Uber Technologies in a research note on Wednesday, November 5th. Truist Financial lifted their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Uber Technologies in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Uber Technologies in a research note on Monday, December 22nd. Two research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.43.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $81.51 on Tuesday. The firm’s 50 day simple moving average is $88.58 and its 200-day simple moving average is $91.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. Uber Technologies, Inc. has a one year low of $60.12 and a one year high of $101.99. The firm has a market cap of $169.35 billion, a PE ratio of 10.48 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

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

Uber Technologies 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.