Douglas Lane & Associates LLC Sells 30,317 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Sep 28th, 2023

Douglas Lane & Associates LLC decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & 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 reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UBER. Pinnacle Bancorp Inc. bought a new position in Uber Technologies in the first quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC raised its position in Uber Technologies by 89.3% in the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 400 shares during the period. SOA Wealth Advisors LLC. raised its position in Uber Technologies by 133.8% in the second quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 400 shares during the period. MCF Advisors LLC bought a new position in Uber Technologies in the first quarter worth approximately $32,000. Finally, Pacifica Partners Inc. bought a new position in Uber Technologies in the second quarter worth approximately $34,000. Institutional investors own 74.07% of the company’s stock.

Uber Technologies Stock Up 2.0 %

Shares of Uber Technologies stock traded up $0.90 on Thursday, reaching $46.04. The stock had a trading volume of 5,215,170 shares, compared to its average volume of 22,676,428. The stock has a market capitalization of $94.08 billion, a P/E ratio of -206.31 and a beta of 1.23. Uber Technologies, Inc. has a 1 year low of $22.94 and a 1 year high of $49.49. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average price of $45.98 and a 200 day moving average price of $40.32.

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Uber Technologies (NYSE:UBER – Get Free Report) last released its 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. The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. Uber Technologies’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.33) EPS. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 291,807 shares of the company’s stock, valued at approximately $13,145,905.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent research reports. Loop Capital increased their price target on shares of Uber Technologies from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company increased their price objective on shares of Uber Technologies from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. JPMorgan Chase & Co. increased their price objective on shares of Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Finally, DA Davidson reissued a “buy” rating and issued a $62.00 price objective on shares of Uber Technologies in a research note on Monday, July 31st. Thirty-one equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $56.00.

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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.