Cornerstone Wealth Group LLC Acquires 1,824 Shares of Uber Technologies, Inc. (NYSE:UBER)

Cornerstone Wealth Group LLC increased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,599 shares of the ride-sharing company’s stock after acquiring an additional 1,824 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Uber Technologies were worth $3,973,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 34.8% in the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after acquiring an additional 43,275,830 shares during the last quarter. Capital World Investors boosted its holdings in shares of Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after acquiring an additional 283,802 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Uber Technologies by 28.4% in the 4th quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock valued at $2,273,669,000 after acquiring an additional 8,164,816 shares during the last quarter. Norges Bank purchased a new stake in shares of Uber Technologies in the 4th quarter valued at $1,415,778,000. Finally, Brown Advisory Inc. boosted its holdings in shares of Uber Technologies by 14.7% in the 4th quarter. Brown Advisory Inc. now owns 17,991,630 shares of the ride-sharing company’s stock valued at $1,107,745,000 after acquiring an additional 2,307,763 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup upped their price objective on shares of Uber Technologies from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Tigress Financial increased their price target on shares of Uber Technologies from $72.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Loop Capital lowered their price target on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a report on Tuesday, May 28th. Finally, Moffett Nathanson reissued a “buy” rating and set a $92.00 price target on shares of Uber Technologies in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.41.

Insider Activity

In other Uber Technologies news, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now directly owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the sale, the insider now owns 206,338 shares in the company, valued at $13,541,962.94. The disclosure for this sale can be found here. Insiders have sold 635,984 shares of company stock valued at $42,258,297 in the last ninety days. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

Shares of Uber Technologies stock traded up $2.34 during trading on Friday, reaching $72.68. The company’s stock had a trading volume of 21,375,880 shares, compared to its average volume of 14,821,461. The company has a 50-day moving average price of $67.90 and a two-hundred day moving average price of $69.78. The firm has a market cap of $151.87 billion, a PE ratio of 117.23, a P/E/G ratio of 1.59 and a beta of 1.37. Uber Technologies, Inc. has a fifty-two week low of $40.09 and a fifty-two week high of $82.14. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. On average, analysts forecast that Uber Technologies, Inc. will post 0.85 EPS for the current year.

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.