Aries Wealth Management Increases Stock Holdings in Uber Technologies, Inc. $UBER

Aries Wealth Management boosted its position in Uber Technologies, Inc. (NYSE:UBER) by 14.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 11,228 shares of the ride-sharing company’s stock after purchasing an additional 1,410 shares during the period. Aries Wealth Management’s holdings in Uber Technologies were worth $1,048,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vision Financial Markets LLC purchased a new position in Uber Technologies in the first quarter worth about $27,000. West Oak Capital LLC purchased a new position in Uber Technologies in the second quarter worth about $28,000. Truvestments Capital LLC boosted its position in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 339 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in Uber Technologies in the second quarter worth about $30,000. Finally, Ransom Advisory Ltd purchased a new position in Uber Technologies in the first quarter worth about $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $94.21 on Wednesday. The stock has a market cap of $196.47 billion, a price-to-earnings ratio of 16.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $95.07 and a 200-day moving average price of $88.19. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. Equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UBER. Barclays reaffirmed an “overweight” rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. KeyCorp lifted their price objective on Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Guggenheim began coverage on Uber Technologies in a research report on Tuesday. They set a “buy” rating and a $140.00 price objective on the stock. Wall Street Zen cut Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Piper Sandler lifted their price objective on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.06.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the transaction, the chief executive officer owned 982,544 shares in the company, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 601,821 shares of company stock worth $58,659,491. 3.70% of the stock is owned by company insiders.

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.