Douglas Lane & Associates LLC Lowers Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Sep 28th, 2023

Douglas Lane & Associates LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,205,969 shares of the ride-sharing company’s stock after selling 30,317 shares during the period. Douglas Lane & Associates LLC owned about 0.06% of Uber Technologies worth $52,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UBER. Norges Bank purchased a new position in Uber Technologies in the fourth quarter valued at $580,568,000. Altimeter Capital Management LP raised its stake in Uber Technologies by 167.5% in the first 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 buying an additional 19,260,000 shares in the last quarter. Davidson Kempner Capital Management LP raised its stake in Uber Technologies by 104.0% in the first quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock valued at $15,850,000 after buying an additional 13,000,000 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Uber Technologies by 6,754.1% in the fourth 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 buying an additional 9,955,565 shares in the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in Uber Technologies in the fourth quarter valued at $178,126,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UBER shares. The Goldman Sachs Group raised their price target on Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Loop Capital raised their price target on Uber Technologies from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Susquehanna raised their price target on Uber Technologies from $48.00 to $55.00 and gave the company a “positive” rating in a research note on Wednesday, August 2nd. Tigress Financial started coverage on Uber Technologies in a research report on Friday, July 21st. They set a “buy” rating and a $66.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on Uber Technologies from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Thirty-one research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $56.00.

Want More Great Investing Ideas?

View Our Latest Stock Report on Uber Technologies

Insider Buying and Selling at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total transaction of $4,751,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,316,243 shares of the company’s stock, valued at approximately $62,534,704.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

UBER traded up $0.90 during trading on Thursday, reaching $46.04. The company’s stock had a trading volume of 5,215,170 shares, compared to its average volume of 22,676,428. Uber Technologies, Inc. has a 52-week low of $22.94 and a 52-week high of $49.49. The company’s fifty day moving average price is $45.98 and its 200-day moving average price is $40.32. The company has a market capitalization of $94.08 billion, a price-to-earnings ratio of -206.31 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. Uber Technologies had a negative return on equity of 4.57% and a negative net margin of 1.07%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.33) EPS. On average, equities analysts forecast that Uber Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

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.

Featured Stories

Receive News & Ratings for Uber Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uber Technologies and related companies with MarketBeat.com's FREE daily email newsletter.