Frank Rimerman Advisors LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Sep 11th, 2023

Frank Rimerman Advisors LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,392 shares of the ride-sharing company’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in Uber Technologies during the first quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Uber Technologies by 89.3% during the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 400 shares during the period. Sandy Spring Bank increased its position in Uber Technologies by 36.4% during the 4th quarter. Sandy Spring Bank now owns 1,240 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. MCF Advisors LLC purchased a new position in Uber Technologies in the first quarter valued at approximately $32,000. Finally, Colonial Trust Advisors lifted its position in Uber Technologies by 23,500.0% during the first quarter. Colonial Trust Advisors now owns 1,180 shares of the ride-sharing company’s stock valued at $37,000 after buying an additional 1,175 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $45.05, for a total transaction of $4,505,000.00. Following the completion of the transaction, the chief financial officer now owns 291,807 shares in the company, valued at $13,145,905.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Nelson Chai sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $45.05, for a total transaction of $4,505,000.00. Following the completion of the transaction, the chief financial officer now directly owns 291,807 shares in the company, valued at $13,145,905.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 69,975 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $3,148,875.00. Following the completion of the transaction, the chief executive officer now directly owns 1,416,243 shares of the company’s stock, valued at $63,730,935. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,998 shares of company stock worth $14,803,833. 3.84% of the stock is owned by insiders.

Uber Technologies Stock Performance

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NYSE UBER traded up $1.45 during trading hours on Monday, reaching $48.69. The company’s stock had a trading volume of 14,275,294 shares, compared to its average volume of 23,173,586. 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 has a 50-day simple moving average of $45.43 and a 200 day simple moving average of $39.18. Uber Technologies, Inc. has a 52 week low of $22.94 and a 52 week high of $49.49. The stock has a market cap of $99.50 billion, a PE ratio of -218.55 and a beta of 1.23.

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

Analysts Set New Price Targets

UBER has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Uber Technologies in a research note on Tuesday, September 5th. JMP Securities raised their price objective on Uber Technologies from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Jefferies Financial Group upped their target price on Uber Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. The Goldman Sachs Group raised their target price on Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, BTIG Research upped their price target on Uber Technologies from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Thirty-one equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Check Out Our Latest Analysis on Uber Technologies

About Uber Technologies

(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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