Redwood Wealth Management Group LLC Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 1st, 2023

Redwood Wealth Management Group LLC lifted its position in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,864 shares of the ride-sharing company’s stock after buying an additional 340 shares during the period. Redwood Wealth Management Group LLC’s holdings in Uber Technologies were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Krilogy Financial LLC grew its position in shares of Uber Technologies by 0.5% in the 2nd quarter. Krilogy Financial LLC now owns 57,233 shares of the ride-sharing company’s stock worth $2,471,000 after buying an additional 262 shares during the last quarter. Virtue Capital Management LLC boosted its stake in Uber Technologies by 3.7% in the 2nd quarter. Virtue Capital Management LLC now owns 7,564 shares of the ride-sharing company’s stock worth $330,000 after purchasing an additional 269 shares in the last quarter. Telemus Capital LLC boosted its stake in Uber Technologies by 4.2% in the 2nd quarter. Telemus Capital LLC now owns 7,371 shares of the ride-sharing company’s stock worth $318,000 after purchasing an additional 296 shares in the last quarter. First Capital Advisors Group LLC. boosted its stake in Uber Technologies by 1.7% in the 1st quarter. First Capital Advisors Group LLC. now owns 17,655 shares of the ride-sharing company’s stock worth $560,000 after purchasing an additional 296 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its stake in Uber Technologies by 2.0% in the 2nd quarter. Moody National Bank Trust Division now owns 15,137 shares of the ride-sharing company’s stock worth $653,000 after purchasing an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Insider Transactions at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 291,807 shares of the company’s stock, valued at $13,145,905.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

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A number of analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Uber Technologies in a research note on Tuesday, September 5th. Tigress Financial assumed coverage on shares of Uber Technologies in a research note on Friday, July 21st. They issued a “buy” rating and a $66.00 target price for the company. Citigroup lifted their target price on shares of Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Morgan Stanley lifted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Wolfe Research lifted their price objective on shares of Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Thirty-one equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $56.00.

View Our Latest Report on Uber Technologies

Uber Technologies Price Performance

Shares of NYSE UBER opened at $45.99 on Friday. The firm has a market cap of $93.98 billion, a PE ratio of -209.04 and a beta of 1.23. The firm has a fifty day moving average of $45.95 and a 200 day moving average of $40.47. 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, Inc. has a one year low of $22.94 and a one year 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 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.19. The company 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 firm’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, research analysts predict that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

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.

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