Pinnacle Wealth Management Advisory Group LLC Makes New $1 Million Investment in Uber Technologies, Inc. (NYSE:UBER)

Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,010 shares of the ride-sharing company’s stock, valued at approximately $1,003,000.

Several other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. lifted its holdings in shares of Uber Technologies by 0.4% during the 1st quarter. Garde Capital Inc. now owns 57,067 shares of the ride-sharing company’s stock valued at $3,111,000 after buying an additional 207 shares during the last quarter. IHT Wealth Management LLC raised its stake in shares of Uber Technologies by 4.3% in the 1st quarter. IHT Wealth Management LLC now owns 5,083 shares of the ride-sharing company’s stock valued at $277,000 after acquiring an additional 211 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Uber Technologies by 1.2% in the 1st quarter. Lido Advisors LLC now owns 20,584 shares of the ride-sharing company’s stock valued at $1,122,000 after acquiring an additional 237 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Uber Technologies by 4.9% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 5,430 shares of the ride-sharing company’s stock valued at $296,000 after acquiring an additional 254 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of Uber Technologies by 3.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 8,560 shares of the ride-sharing company’s stock valued at $467,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 72.73% of the company’s stock.

In related news, insider Tony West sold 6,500 shares of the company’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $50.51, for a total value of $328,315.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.06% of the company’s stock.

A number of research analysts recently weighed in on the company. Oppenheimer cut their price objective on Uber Technologies from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 5th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Thursday, July 1st. The Goldman Sachs Group began coverage on Uber Technologies in a research report on Monday. They issued a “buy” rating and a $64.00 price target on the stock. Wedbush dropped their price target on Uber Technologies from $66.00 to $51.00 and set an “outperform” rating on the stock in a research report on Thursday, August 5th. Finally, DA Davidson dropped their price target on Uber Technologies from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, August 5th. Three analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $68.57.

UBER stock opened at $39.01 on Wednesday. The company has a market cap of $73.51 billion, a P/E ratio of -60.95 and a beta of 1.54. Uber Technologies, Inc. has a twelve month low of $32.89 and a twelve month high of $64.05. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $43.24 and a 200-day moving average of $49.61.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 4th. The ride-sharing company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $1.11. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.76 billion. Uber Technologies had a negative return on equity of 15.64% and a negative net margin of 7.78%. The firm’s quarterly revenue was up 75.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.02) earnings per share. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post -0.2 earnings per share for the current fiscal year.

Uber Technologies Company Profile

Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through the following segments: Rides, Eats, Freight, Other Bets and ATG and Other Technology Programs.

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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