Inlight Wealth Management LLC Reduces Stock Position in Uber Technologies, Inc. $UBER

Inlight Wealth Management LLC reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,511 shares of the ride-sharing company’s stock after selling 1,750 shares during the quarter. Uber Technologies makes up approximately 1.7% of Inlight Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Inlight Wealth Management LLC’s holdings in Uber Technologies were worth $6,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Nova Wealth Management Inc. grew its stake in Uber Technologies by 41.0% in the first quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Atticus Wealth Management LLC lifted its holdings in shares of Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 127 shares during the period. Grove Bank & Trust lifted its holdings in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock worth $1,030,000 after buying an additional 133 shares during the period. Forum Financial Management LP grew its position in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock worth $798,000 after buying an additional 136 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 138 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Price Performance

NYSE UBER opened at $96.53 on Monday. The company has a market cap of $201.30 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $93.93 and its 200 day moving average price is $87.23. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated 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 owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony West sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock valued at $58,659,491 in the last quarter. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

UBER has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Roth Capital increased their price objective 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. Susquehanna boosted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Finally, Wall Street Zen downgraded Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.03.

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.