MFG Wealth Management Inc. Buys Shares of 33,100 Uber Technologies, Inc. (NYSE:UBER)

MFG Wealth Management Inc. purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 33,100 shares of the ride-sharing company’s stock, valued at approximately $1,997,000. Uber Technologies accounts for 1.8% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Uber Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after purchasing an additional 893,652 shares in the last quarter. Edgewood Management LLC lifted its stake in Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares in the last quarter. Jennison Associates LLC boosted its holdings in Uber Technologies by 36.9% during 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 period. Janus Henderson Group PLC grew its position in Uber Technologies by 18.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after acquiring an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Uber Technologies by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. Loop Capital upped their price objective on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Seven analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $90.70.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.84% of the stock is owned by insiders.

Uber Technologies Stock Up 3.2 %

UBER stock opened at $79.45 on Thursday. The company has a market cap of $167.30 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The company has a fifty day moving average price of $65.56 and a 200 day moving average price of $70.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Sell-side analysts expect that Uber Technologies, Inc. will post 2.4 earnings per share 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.