Uber Technologies, Inc. (NYSE:UBER) Position Lowered by TB Alternative Assets Ltd.

Posted by MarketBeat News on Oct 2nd, 2023

TB Alternative Assets Ltd. trimmed its position in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 10.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,500 shares of the ride-sharing company’s stock after selling 44,500 shares during the quarter. Uber Technologies accounts for approximately 4.2% of TB Alternative Assets Ltd.’s portfolio, making the stock its 8th largest holding. TB Alternative Assets Ltd.’s holdings in Uber Technologies were worth $16,728,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of UBER. American Century Companies Inc. grew its stake in shares of Uber Technologies by 28.7% in 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 in the last quarter. MetLife Investment Management LLC acquired a new stake in Uber Technologies during the 1st quarter valued at approximately $3,359,000. Panagora Asset Management Inc. grew its stake in Uber Technologies by 29.3% during the 1st 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 in the last quarter. Yousif Capital Management LLC grew its stake in Uber Technologies by 11.7% during the 1st quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock valued at $938,000 after purchasing an additional 2,756 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Uber Technologies by 17.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock valued at $40,838,000 after purchasing an additional 168,475 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 100,000 shares of Uber Technologies stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $47.51, for a total transaction of $4,751,000.00. Following the transaction, the chief executive officer now owns 1,316,243 shares in the company, valued at $62,534,704.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Price Performance

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Shares of NYSE UBER traded down $0.65 during mid-day trading on Monday, reaching $45.34. The company had a trading volume of 2,845,959 shares, compared to its average volume of 22,615,791. 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 stock has a market cap of $92.65 billion, a PE ratio of -209.04 and a beta of 1.22. The company has a 50-day moving average price of $45.95 and a two-hundred day moving average price of $40.59. Uber Technologies, Inc. has a 1-year low of $22.94 and a 1-year high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.19. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted ($1.33) EPS. On average, equities analysts anticipate that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

UBER has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. 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. Loop Capital lifted their target price on Uber Technologies from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Citigroup lifted their target price on Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Mizuho lifted their target price on Uber Technologies from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Thirty-one investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $56.00.

Check Out Our Latest Stock Analysis on UBER

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.