Journey Strategic Wealth LLC Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Aug 31st, 2023

Journey Strategic Wealth LLC acquired a new stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,250 shares of the ride-sharing company’s stock, valued at approximately $483,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 1.5% in the first quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock valued at $3,202,889,000 after buying an additional 1,368,569 shares during the period. Altimeter Capital Management LP lifted its holdings in shares of Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after buying an additional 19,260,000 shares during the period. Norges Bank purchased a new stake in shares of Uber Technologies during the fourth quarter valued at $580,568,000. Capital World Investors lifted its holdings in shares of Uber Technologies by 18.5% during the first quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock valued at $787,480,000 after purchasing an additional 3,443,554 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Uber Technologies by 3.3% during the first quarter. Fisher Asset Management LLC now owns 20,785,980 shares of the ride-sharing company’s stock valued at $658,916,000 after purchasing an additional 660,757 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $46.65 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. The firm has a market cap of $95.33 billion, a price-to-earnings ratio of -211.50 and a beta of 1.23. The business’s 50-day simple moving average is $44.97 and its 200-day simple moving average is $38.57. Uber Technologies, Inc. has a 52 week low of $22.94 and a 52 week high of $49.49.

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Uber Technologies (NYSE:UBER – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.19. Uber Technologies had a negative return on equity of 4.57% and a negative net margin of 1.07%. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. During the same quarter in the prior year, the firm posted ($1.33) EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Uber Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 644 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $26,404.00. Following the completion of the sale, the insider now owns 128,916 shares in the company, valued at approximately $5,285,556. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jill Hazelbaker sold 644 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $26,404.00. Following the completion of the sale, the insider now owns 128,916 shares in the company, valued at approximately $5,285,556. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 30,025 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $45.00, for a total value of $1,351,125.00. Following the sale, the chief executive officer now owns 1,485,167 shares of the company’s stock, valued at approximately $66,832,515. The disclosure for this sale can be found here. Insiders sold a total of 325,642 shares of company stock worth $14,830,237 in the last 90 days. 3.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UBER shares. Wedbush upped their target price on Uber Technologies from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Bank of America upped their target price on Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Mizuho upped their target price on Uber Technologies from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein upped their target price on Uber Technologies from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Uber Technologies from $44.00 to $46.00 in a research report on Wednesday, May 3rd. Thirty-one investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Uber Technologies has an average rating of “Buy” and a consensus target price of $56.00.

Get Our Latest Stock Analysis on UBER

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.