11,395 Shares in Uber Technologies, Inc. (NYSE:UBER) Bought by Echo Wealth Management LLC

Echo Wealth Management LLC acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,395 shares of the ride-sharing company’s stock, valued at approximately $887,000. Uber Technologies accounts for 0.6% of Echo Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Mather Group LLC. bought a new stake in shares of Uber Technologies during the 1st quarter worth approximately $79,000. RFG Advisory LLC raised its position in Uber Technologies by 7.7% during the first quarter. RFG Advisory LLC now owns 12,475 shares of the ride-sharing company’s stock valued at $960,000 after purchasing an additional 888 shares in the last quarter. &PARTNERS bought a new stake in Uber Technologies during the first quarter worth $230,000. Salem Investment Counselors Inc. boosted its holdings in shares of Uber Technologies by 29.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 888 shares of the ride-sharing company’s stock valued at $68,000 after purchasing an additional 200 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Uber Technologies by 23.7% in the 1st quarter. Ballentine Partners LLC now owns 17,185 shares of the ride-sharing company’s stock valued at $1,323,000 after purchasing an additional 3,292 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on UBER shares. Wolfe Research initiated coverage on Uber Technologies in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 price objective on the stock. Evercore ISI raised their price target on shares of Uber Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Monday, October 7th. Finally, Roth Mkm boosted their target price on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.51.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares in the company, valued at $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Down 0.9 %

Uber Technologies stock opened at $79.16 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $166.31 billion, a PE ratio of 86.99, a PEG ratio of 1.37 and a beta of 1.33. The firm’s fifty day moving average is $74.30 and its 200 day moving average is $70.63. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 1.08 EPS for the current fiscal year.

About Uber Technologies

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.