Uber Technologies, Inc. (NYSE:UBER) Stock Position Raised by Westwood Wealth Management

Posted by MarketBeat News on Oct 9th, 2023

Westwood Wealth Management lifted its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,475 shares of the ride-sharing company’s stock after acquiring an additional 1,600 shares during the quarter. Uber Technologies accounts for 1.5% of Westwood Wealth Management’s portfolio, making the stock its 12th largest holding. Westwood Wealth Management’s holdings in Uber Technologies were worth $2,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Uber Technologies by 84,122.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 123,555,492 shares of the ride-sharing company’s stock valued at $5,333,891,000 after buying an additional 123,408,790 shares in the last quarter. Norges Bank bought a new position in Uber Technologies during the fourth quarter valued at about $580,568,000. Altimeter Capital Management LP raised its holdings in Uber Technologies by 167.5% during the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after buying an additional 19,260,000 shares in the last quarter. Davidson Kempner Capital Management LP raised its holdings in Uber Technologies by 104.0% during the first quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock valued at $15,850,000 after buying an additional 13,000,000 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Uber Technologies by 6,754.1% during the fourth quarter. Point72 Asset Management L.P. now owns 9,808,165 shares of the ride-sharing company’s stock valued at $242,556,000 after buying an additional 9,955,565 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on UBER. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of Uber Technologies in a research note on Tuesday, September 5th. DA Davidson reissued a “buy” rating and set a $62.00 target price on shares of Uber Technologies in a research report on Monday, July 31st. Wedbush lifted their target price on Uber Technologies from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Morgan Stanley lifted their price objective on Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Finally, The Goldman Sachs Group lifted their price objective on Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Thirty-one equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Uber Technologies currently has an average rating of “Buy” and a consensus price target of $56.00.

Want More Great Investing Ideas?

View Our Latest Stock Analysis on Uber Technologies

Uber Technologies Price Performance

NYSE:UBER traded down $0.97 during mid-day trading on Monday, hitting $44.81. The stock had a trading volume of 1,953,898 shares, compared to its average volume of 22,374,539. Uber Technologies, Inc. has a twelve month low of $22.94 and a twelve month high of $49.49. The company’s 50 day simple moving average is $45.73 and its 200 day simple moving average is $41.04. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98.

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

Insider Activity at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total transaction 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 $62,534,704.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.84% of the stock is currently owned by insiders.

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.

Featured Articles

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER – Free Report).

Receive News & Ratings for Uber Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uber Technologies and related companies with MarketBeat.com's FREE daily email newsletter.