First Republic Investment Management Inc. Cuts Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Aug 31st, 2023

First Republic Investment Management Inc. reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,589,873 shares of the ride-sharing company’s stock after selling 162,445 shares during the period. First Republic Investment Management Inc. owned about 0.08% of Uber Technologies worth $50,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in Uber Technologies during the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Uber Technologies by 89.3% during the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 400 shares during the period. Sandy Spring Bank raised its stake in shares of Uber Technologies by 36.4% in the fourth quarter. Sandy Spring Bank now owns 1,240 shares of the ride-sharing company’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. MCF Advisors LLC purchased a new position in Uber Technologies in the first quarter valued at $32,000. Finally, Colonial Trust Advisors grew its stake in Uber Technologies by 23,500.0% during the 1st quarter. Colonial Trust Advisors now owns 1,180 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 1,175 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 644 shares of Uber Technologies stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.00, for a total value of $26,404.00. Following the sale, the insider now owns 128,916 shares of the company’s stock, valued at approximately $5,285,556. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tony West sold 16,664 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $42.00, for a total value of $699,888.00. Following the completion of the transaction, the insider now owns 164,693 shares in the company, valued at approximately $6,917,106. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 644 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were 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 of the company’s stock, valued at approximately $5,285,556. The disclosure for this sale can be found here. Insiders have sold a total of 325,642 shares of company stock worth $14,830,237 over the last ninety days. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Trading Up 2.6 %

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Shares of UBER stock opened at $46.53 on Thursday. The company has a market capitalization of $95.09 billion, a P/E ratio of -211.50 and a beta of 1.23. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average is $44.97 and its two-hundred day moving average is $38.57. Uber Technologies, Inc. has a twelve month low of $22.94 and a twelve month high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.19. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.34 billion. During the same period in the previous year, the company posted ($1.33) EPS. Uber Technologies’s revenue was up 14.3% compared to the same quarter last year. Equities analysts forecast that Uber Technologies, Inc. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

UBER has been the subject of several recent research reports. JMP Securities lifted their price objective on Uber Technologies from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. The Goldman Sachs Group raised their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Susquehanna boosted their target price on shares of Uber Technologies from $48.00 to $55.00 and gave the stock a “positive” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Financial Group raised their price target on Uber Technologies from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Thirty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $56.00.

Get Our Latest Research Report 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.

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