Echo Wealth Management LLC Boosts Position in Uber Technologies, Inc. (NYSE:UBER)

Echo Wealth Management LLC grew its position in Uber Technologies, Inc. (NYSE:UBER) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,595 shares of the ride-sharing company’s stock after buying an additional 1,200 shares during the quarter. Uber Technologies accounts for approximately 0.5% of Echo Wealth Management LLC’s holdings, making the stock its 27th biggest holding. Echo Wealth Management LLC’s holdings in Uber Technologies were worth $760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in UBER. Daymark Wealth Partners LLC raised its holdings in shares of Uber Technologies by 15.3% in the second quarter. Daymark Wealth Partners LLC now owns 6,347 shares of the ride-sharing company’s stock worth $461,000 after acquiring an additional 844 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Uber Technologies by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,294,878 shares of the ride-sharing company’s stock valued at $94,098,000 after purchasing an additional 39,791 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Uber Technologies by 6.6% during the 2nd quarter. SkyView Investment Advisors LLC now owns 29,405 shares of the ride-sharing company’s stock worth $2,137,000 after purchasing an additional 1,810 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Uber Technologies by 8.1% during the second quarter. Ascent Group LLC now owns 20,654 shares of the ride-sharing company’s stock worth $1,501,000 after buying an additional 1,546 shares in the last quarter. Finally, Creative Planning raised its position in shares of Uber Technologies by 3.3% in the second quarter. Creative Planning now owns 145,672 shares of the ride-sharing company’s stock valued at $10,587,000 after buying an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Loop Capital lifted their price objective on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday, December 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Stock Performance

UBER stock opened at $68.59 on Friday. The firm has a market cap of $144.42 billion, a P/E ratio of 34.12, a P/E/G ratio of 0.77 and a beta of 1.36. The stock’s 50 day simple moving average is $65.86 and its 200 day simple moving average is $70.25. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. As a group, equities research analysts predict that Uber Technologies, Inc. will post 1.86 EPS for the current year.

Uber Technologies Company 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.