IHT Wealth Management LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

IHT Wealth Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,969 shares of the ride-sharing company’s stock, valued at approximately $688,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UBER. Altimeter Capital Management LP raised its position in shares of Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after buying an additional 19,260,000 shares in the last quarter. Tiger Global Management LLC raised its position in shares of Uber Technologies by 1,501.7% during the 3rd quarter. Tiger Global Management LLC now owns 9,923,073 shares of the ride-sharing company’s stock worth $262,961,000 after buying an additional 9,303,523 shares in the last quarter. Coatue Management LLC raised its holdings in shares of Uber Technologies by 63.3% in the 3rd quarter. Coatue Management LLC now owns 16,628,166 shares of the ride-sharing company’s stock worth $440,646,000 after purchasing an additional 6,444,266 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 110,536,758 shares of the ride-sharing company’s stock worth $2,929,224,000 after purchasing an additional 6,148,269 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Uber Technologies in the 3rd quarter worth approximately $144,924,000. 71.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UBER shares. UBS Group boosted their target price on shares of Uber Technologies from $38.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Wolfe Research reiterated an “outperform” rating and issued a $45.00 target price on shares of Uber Technologies in a report on Wednesday, February 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $52.00 target price on shares of Uber Technologies in a research report on Thursday, February 9th. Roth Capital reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Thursday, February 9th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Uber Technologies in a research report on Wednesday, February 8th. Two equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Uber Technologies Stock Down 2.9 %

Uber Technologies stock opened at $31.78 on Friday. The firm has a market cap of $63.87 billion, a price-to-earnings ratio of -6.78 and a beta of 1.22. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.04 and a quick ratio of 1.04. Uber Technologies, Inc. has a fifty-two week low of $19.90 and a fifty-two week high of $37.58. The firm has a fifty day moving average price of $32.30 and a two-hundred day moving average price of $29.40.

Uber Technologies (NYSE:UBER – Get Rating) last released its earnings results on Wednesday, February 8th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.50. The firm had revenue of $8.61 billion during the quarter, compared to analyst estimates of $8.51 billion. Uber Technologies had a negative net margin of 28.68% and a negative return on equity of 114.18%. The business’s revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, analysts forecast that Uber Technologies, Inc. will post -0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 4,167 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $32.54, for a total transaction of $135,594.18. Following the completion of the transaction, the insider now owns 166,973 shares of the company’s stock, valued at approximately $5,433,301.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.06% of the company’s stock.

Uber Technologies Company Profile

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Uber Technologies, Inc is a technology platform, which engages in the development and operation of technology applications, network, and product to power movement from point A to point B. The firm offers ride services and merchants delivery service providers for meal preparation, grocery and other delivery services.