Peregrine Capital Management LLC Has $42.93 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 8th, 2023

Peregrine Capital Management LLC boosted its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 30.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 994,457 shares of the ride-sharing company’s stock after acquiring an additional 233,890 shares during the quarter. Uber Technologies accounts for 1.2% of Peregrine Capital Management LLC’s portfolio, making the stock its 17th largest position. Peregrine Capital Management LLC’s holdings in Uber Technologies were worth $42,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the business. Raleigh Capital Management Inc. grew its holdings in shares of Uber Technologies by 66.5% during the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock worth $28,000 after purchasing an additional 260 shares during the last quarter. Krilogy Financial LLC grew its holdings in shares of Uber Technologies by 0.5% during the second quarter. Krilogy Financial LLC now owns 57,233 shares of the ride-sharing company’s stock worth $2,471,000 after purchasing an additional 262 shares during the last quarter. Virtue Capital Management LLC grew its holdings in shares of Uber Technologies by 3.7% during the second 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 during the last quarter. Telemus Capital LLC grew its holdings in shares of Uber Technologies by 4.2% during the second 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 during the last quarter. Finally, First Capital Advisors Group LLC. grew its holdings in shares of Uber Technologies by 1.7% during the first 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 during the last quarter. Institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UBER shares. Susquehanna increased their target price on Uber Technologies from $48.00 to $55.00 and gave the stock a “positive” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein raised their price target on Uber Technologies from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. JMP Securities raised their price target on Uber Technologies from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Roth Mkm raised their price target on Uber Technologies from $46.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Jefferies Financial Group raised their price target on Uber Technologies from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, July 14th. Thirty-one investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $56.00.

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Insider Activity at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 100,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $47.51, for a total value of $4,751,000.00. Following the sale, the chief executive officer now owns 1,316,243 shares of the company’s stock, valued at approximately $62,534,704.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.84% of the stock is owned by insiders.

Uber Technologies Price Performance

Uber Technologies stock traded up $1.17 during midday trading on Friday, reaching $45.78. The stock had a trading volume of 14,380,568 shares, compared to its average volume of 16,162,373. The firm’s fifty day simple moving average is $45.73 and its 200-day simple moving average is $40.98. 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.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.19. Uber Technologies had a negative return on equity of 4.57% and a negative net margin of 1.07%. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. During the same quarter last year, the firm earned ($1.33) EPS. Uber Technologies’s revenue for the quarter was up 14.3% compared to the same quarter last year. Research analysts forecast that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

About Uber Technologies

(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.