Park Avenue Securities LLC Cuts Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by Defense World Staff on Jul 2nd, 2023

Park Avenue Securities LLC decreased its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,784 shares of the ride-sharing company’s stock after selling 2,473 shares during the period. Park Avenue Securities LLC’s holdings in Uber Technologies were worth $2,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. MADDEN SECURITIES Corp bought a new position in shares of Uber Technologies during the 4th quarter worth approximately $51,000. Daiwa Securities Group Inc. lifted its holdings in shares of Uber Technologies by 12.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 166,006 shares of the ride-sharing company’s stock valued at $4,105,000 after purchasing an additional 17,926 shares during the last quarter. Cullinan Associates Inc. boosted its position in shares of Uber Technologies by 183.1% in the 4th quarter. Cullinan Associates Inc. now owns 101,257 shares of the ride-sharing company’s stock worth $2,504,000 after purchasing an additional 65,485 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new position in Uber Technologies during the 4th quarter worth $69,000. Finally, Northwest Investment Counselors LLC increased its position in Uber Technologies by 47.3% during the 1st quarter. Northwest Investment Counselors LLC now owns 2,180 shares of the ride-sharing company’s stock valued at $69,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 73.90% of the company’s stock.

Uber Technologies Trading Up 1.4 %

Uber Technologies stock opened at $43.17 on Friday. The company’s fifty day moving average price is $38.94 and its 200 day moving average price is $33.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.06 and a quick ratio of 1.06. Uber Technologies, Inc. has a 1 year low of $20.43 and a 1 year high of $45.24.

Uber Technologies (NYSE:UBER – Free Report) last released its earnings results on Tuesday, May 2nd. The ride-sharing company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $8.82 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Uber Technologies had a negative net margin of 9.95% and a negative return on equity of 43.94%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) earnings per share. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

UBER has been the subject of several recent analyst reports. Needham & Company LLC raised their price target on Uber Technologies from $54.00 to $56.00 in a report on Wednesday, May 3rd. Loop Capital lifted their target price on shares of Uber Technologies from $42.00 to $48.00 in a research note on Friday, June 9th. Susquehanna upgraded shares of Uber Technologies from a “neutral” rating to a “positive” rating and upped their price target for the company from $40.00 to $48.00 in a research note on Wednesday, May 3rd. Piper Jaffray Companies lifted their price objective on shares of Uber Technologies from $41.00 to $43.00 in a research note on Wednesday, May 3rd. Finally, Wedbush assumed coverage on Uber Technologies in a research report on Tuesday, June 6th. They issued an “outperform” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $50.44.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 12,501 shares of Uber Technologies stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $37.85, for a total value of $473,162.85. Following the sale, the insider now directly owns 181,750 shares of the company’s stock, valued at $6,879,237.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dara Khosrowshahi sold 69,975 shares of Uber Technologies stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $3,148,875.00. Following the transaction, the chief executive officer now owns 1,416,243 shares in the company, valued at $63,730,935. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tony West sold 12,501 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $37.85, for a total value of $473,162.85. Following the completion of the sale, the insider now owns 181,750 shares of the company’s stock, valued at $6,879,237.50. The disclosure for this sale can be found here. Insiders sold 138,143 shares of company stock valued at $6,047,399 over the last quarter. 3.84% of the stock is currently owned by insiders.

Uber Technologies Profile

(Free Report)

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.