Pinnacle Wealth Management Advisory Group LLC Buys Shares of 2,517 Uber Technologies, Inc. $UBER

Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,517 shares of the ride-sharing company’s stock, valued at approximately $235,000.

Other institutional investors have also modified their holdings of the company. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the 1st quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC increased its stake in Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares during the period. Pacer Advisors Inc. increased its stake in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after purchasing an additional 6,254,898 shares during the period. Vanguard Group Inc. lifted its position in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Uber Technologies by 105.9% in the second quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock valued at $506,618,000 after purchasing an additional 2,807,967 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

Shares of UBER stock opened at $94.17 on Tuesday. The company has a market cap of $195.67 billion, a P/E ratio of 12.10 and a beta of 1.46. The firm has a fifty day moving average price of $95.47 and a 200 day moving average price of $91.44. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UBER. DA Davidson lifted their price objective on shares of Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Truist Financial boosted 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. Royal Bank Of Canada set a $110.00 price objective on Uber Technologies in a research report on Wednesday, November 5th. Raymond James Financial increased their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Piper Sandler set a $107.00 target price on Uber Technologies in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.26.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the sale, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This represents a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 604,946 shares of company stock worth $58,950,116. 3.70% of the stock is currently owned by corporate insiders.

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.