Glenview Capital Management LLC Decreases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Sep 12th, 2023

Glenview Capital Management LLC trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 25.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,977,665 shares of the ride-sharing company’s stock after selling 1,027,341 shares during the quarter. Uber Technologies accounts for approximately 2.1% of Glenview Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Glenview Capital Management LLC’s holdings in Uber Technologies were worth $94,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. boosted its position in shares of Uber Technologies by 28.7% during the first quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock valued at $822,000 after buying an additional 5,142 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Uber Technologies in the first quarter worth approximately $3,359,000. Panagora Asset Management Inc. lifted its position in Uber Technologies by 29.3% during the first quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock valued at $808,000 after purchasing an additional 5,134 shares during the period. Yousif Capital Management LLC boosted its holdings in Uber Technologies by 11.7% in the first quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock worth $938,000 after purchasing an additional 2,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Uber Technologies by 17.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock worth $40,838,000 after purchasing an additional 168,475 shares during the period. Institutional investors own 74.07% of the company’s stock.

Insider Activity

In related news, insider Tony West sold 16,664 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $42.00, for a total value of $699,888.00. Following the transaction, the insider now owns 164,693 shares of the company’s stock, valued at $6,917,106. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Dara Khosrowshahi sold 30,025 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,485,167 shares in the company, valued at approximately $66,832,515. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tony West sold 16,664 shares of the company’s stock in a transaction that occurred on 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 directly owns 164,693 shares of the company’s stock, valued at approximately $6,917,106. 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. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Trading Down 0.6 %

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NYSE:UBER traded down $0.30 during midday trading on Tuesday, hitting $48.64. 3,104,420 shares of the company traded hands, compared to its average volume of 23,085,838. 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 firm’s fifty day moving average is $45.54 and its 200-day moving average is $39.28. The firm has a market capitalization of $99.40 billion, a P/E ratio of -222.50 and a beta of 1.23. Uber Technologies, Inc. has a 12-month low of $22.94 and a 12-month high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share 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 firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.34 billion. During the same period in the prior year, the business posted ($1.33) earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that Uber Technologies, Inc. will post 0.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UBER. Susquehanna raised their price target on Uber Technologies from $48.00 to $55.00 and gave the stock a “positive” rating in a research note on Wednesday, August 2nd. Sanford C. Bernstein boosted their target price on shares of Uber Technologies from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Morgan Stanley increased their price target on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Tigress Financial initiated coverage on Uber Technologies in a report on Friday, July 21st. They set a “buy” rating and a $66.00 price target for the company. Finally, DA Davidson restated a “buy” rating and issued a $62.00 price target on shares of Uber Technologies in a research report on Monday, July 31st. Thirty-one equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $56.00.

Read Our Latest Research Report on Uber Technologies

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.