Inlight Wealth Management LLC Takes $4.74 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Inlight Wealth Management LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the fourth quarter, HoldingsChannel reports. The firm purchased 78,642 shares of the ride-sharing company’s stock, valued at approximately $4,744,000. Uber Technologies comprises 1.5% of Inlight Wealth Management LLC’s portfolio, making the stock its 15th biggest position.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Uber Technologies by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after buying an additional 2,364,525 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after buying an additional 1,061,088 shares in the last quarter. Jennison Associates LLC raised its holdings in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the last quarter. Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at $1,467,754,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Uber Technologies by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,273,165 shares of the ride-sharing company’s stock valued at $800,637,000 after acquiring an additional 774,956 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

NYSE:UBER opened at $70.97 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market cap of $148.44 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a 50-day moving average of $73.89 and a 200-day moving average of $71.51.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock valued at $5,793,869 in the last three months. 3.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UBER. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a research note on Thursday, February 6th. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Uber Technologies from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

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.