Harber Asset Management LLC Reduces Stake in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Sep 12th, 2023

Harber Asset Management LLC lowered its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 74.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,732 shares of the ride-sharing company’s stock after selling 389,817 shares during the period. Harber Asset Management LLC’s holdings in Uber Technologies were worth $4,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of UBER. Norges Bank purchased a new stake in shares of Uber Technologies in the 4th quarter valued at about $580,568,000. Altimeter Capital Management LP raised its holdings in shares of Uber Technologies by 167.5% in the 1st 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 acquiring an additional 19,260,000 shares in the last quarter. Davidson Kempner Capital Management LP raised its holdings in shares of Uber Technologies by 104.0% in the 1st quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock valued at $15,850,000 after acquiring an additional 13,000,000 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Uber Technologies by 6,754.1% in the 4th quarter. Point72 Asset Management L.P. now owns 9,808,165 shares of the ride-sharing company’s stock valued at $242,556,000 after acquiring an additional 9,955,565 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in shares of Uber Technologies in the 4th quarter valued at about $178,126,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Uber Technologies Stock Performance

Shares of UBER opened at $48.95 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.23. Uber Technologies, Inc. has a one year low of $22.94 and a one year high of $49.49. The firm has a market capitalization of $100.03 billion, a P/E ratio of -222.50 and a beta of 1.23. The business has a fifty day moving average of $45.54 and a 200 day moving average of $39.28.

Want More Great Investing Ideas?

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, topping the consensus estimate 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 company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.34 billion. During the same quarter in the previous year, the company posted ($1.33) earnings per share. Uber Technologies’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 0.41 EPS for the current year.

Wall Street Analyst Weigh In

UBER has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price objective on shares of Uber Technologies in a report on Tuesday, September 5th. Morgan Stanley raised their price objective on Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Wells Fargo & Company raised their price objective on Uber Technologies from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Wedbush raised their price objective on Uber Technologies from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, Tigress Financial initiated coverage on Uber Technologies in a report on Friday, July 21st. They set a “buy” rating and a $66.00 price objective on the stock. Thirty-one equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.00.

Read Our Latest Analysis on UBER

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 16,664 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $42.00, for a total transaction of $699,888.00. Following the completion of the sale, the insider now owns 164,693 shares of the company’s stock, valued at $6,917,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Tony West sold 16,664 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was 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 of the company’s stock, valued at $6,917,106. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dara Khosrowshahi sold 30,025 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $45.00, for a total value of $1,351,125.00. Following the completion of the transaction, the chief executive officer now directly 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. Over the last quarter, insiders sold 316,664 shares of company stock valued at $14,455,888. Company insiders own 3.84% of the company’s stock.

Uber Technologies Company 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.