SevenBridge Financial Group LLC Boosts Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 9th, 2023

SevenBridge Financial Group LLC grew its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,979 shares of the ride-sharing company’s stock after buying an additional 4,221 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Uber Technologies were worth $2,546,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in UBER. Pinnacle Bancorp Inc. acquired a new stake in Uber Technologies in the first quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Uber Technologies by 89.3% in the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock valued at $27,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Uber Technologies by 66.5% in the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock valued at $28,000 after buying an additional 260 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Uber Technologies by 133.8% during 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. Finally, MCF Advisors LLC purchased a new position in Uber Technologies in the first quarter worth $32,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Insider Buying and Selling

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was 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 directly owns 291,807 shares in the company, valued at $13,145,905.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Analyst Upgrades and Downgrades

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Several equities research analysts have commented on the stock. Wedbush boosted their target price on shares of Uber Technologies from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Barclays boosted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Truist Financial dropped their target price on shares of Uber Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. JPMorgan Chase & Co. boosted their price target on Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company raised their price objective on Uber Technologies from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Thirty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $56.00.

Get Our Latest Report on UBER

Uber Technologies Trading Down 1.9 %

Shares of NYSE UBER traded down $0.88 on Monday, reaching $44.90. 5,131,215 shares of the company traded hands, compared to its average volume of 22,393,279. Uber Technologies, Inc. has a fifty-two week low of $22.94 and a fifty-two week high of $49.49. 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 company has a 50 day moving average of $45.73 and a 200 day moving average of $41.04.

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 firm 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%. Uber Technologies’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.33) earnings per share. On average, sell-side analysts expect that Uber Technologies, Inc. will post 0.42 earnings per share 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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