Empower Advisory Group LLC Takes Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Sep 13th, 2023

Empower Advisory Group LLC purchased a new stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,447,486 shares of the ride-sharing company’s stock, valued at approximately $76,998,000. Empower Advisory Group LLC owned 0.12% of Uber Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brandywine Managers LLC purchased a new stake in shares of Uber Technologies during the 1st quarter valued at about $539,000. Van Hulzen Asset Management LLC acquired a new position in shares of Uber Technologies during the first quarter worth $207,000. Armistice Capital LLC grew its holdings in Uber Technologies by 75.0% during the 1st quarter. Armistice Capital LLC now owns 1,092,000 shares of the ride-sharing company’s stock valued at $34,616,000 after purchasing an additional 468,000 shares in the last quarter. Vinva Investment Management Ltd acquired a new position in Uber Technologies in the 1st quarter worth $1,566,000. Finally, BOKF NA boosted its position in Uber Technologies by 2.0% in the 1st quarter. BOKF NA now owns 67,116 shares of the ride-sharing company’s stock valued at $2,128,000 after buying an additional 1,311 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Trading Up 0.7 %

Shares of NYSE UBER traded up $0.32 during mid-day trading on Wednesday, hitting $48.24. 3,403,278 shares of the company traded hands, compared to its average volume of 23,063,607. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. Uber Technologies, Inc. has a 1 year low of $22.94 and a 1 year high of $49.49. The stock has a market capitalization of $98.58 billion, a price-to-earnings ratio of -217.82 and a beta of 1.23. The business has a 50 day moving average of $45.64 and a two-hundred day moving average of $39.38.

Want More Great Investing Ideas?

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

Analyst Upgrades and Downgrades

Several research firms recently commented on UBER. Bank of America boosted their price target on Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Mizuho increased their target price on Uber Technologies from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Truist Financial cut their price target on shares of Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Sanford C. Bernstein raised their price objective on shares of Uber Technologies from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, Jefferies Financial Group upped their target price on shares of 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.com, the stock presently has an average rating of “Buy” and an average target price of $56.00.

View Our Latest Stock Analysis on UBER

Insider Buying and Selling

In other news, insider Tony West sold 16,664 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $42.00, for a total value of $699,888.00. Following the transaction, the insider now directly owns 164,693 shares of the company’s stock, valued at $6,917,106. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Uber Technologies news, CEO Dara Khosrowshahi sold 30,025 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,351,125.00. Following the transaction, the chief executive officer now directly owns 1,485,167 shares of the company’s stock, valued at $66,832,515. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tony West sold 16,664 shares of the firm’s 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 transaction, the insider now owns 164,693 shares in the company, valued at $6,917,106. The disclosure for this sale can be found here. Over the last three months, insiders sold 316,664 shares of company stock worth $14,455,888. 3.84% of the stock is owned by company insiders.

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.