Coronation Fund Managers Ltd. Sells 732,020 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 11th, 2023

Coronation Fund Managers Ltd. lessened its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 24.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,302,841 shares of the ride-sharing company’s stock after selling 732,020 shares during the period. Uber Technologies comprises 2.7% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 4th biggest holding. Coronation Fund Managers Ltd. owned about 0.11% of Uber Technologies worth $99,414,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of UBER. Pinnacle Bancorp Inc. purchased a new stake in Uber Technologies during the first quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Uber Technologies by 89.3% during the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Uber Technologies by 66.5% in the 2nd 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 position in shares of Uber Technologies by 133.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 400 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in Uber Technologies in the first quarter valued at $32,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

Shares of NYSE UBER traded up $0.01 on Wednesday, hitting $46.64. The company’s stock had a trading volume of 5,639,945 shares, compared to its average volume of 22,298,164. The stock has a 50 day moving average of $45.65 and a 200-day moving average of $41.26. The company has a market capitalization of $95.31 billion, a price-to-earnings ratio of -211.99 and a beta of 1.22. Uber Technologies, Inc. has a 12-month low of $23.90 and a 12-month high of $49.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.23.

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Uber Technologies (NYSE:UBER – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.33) EPS. As a group, research analysts predict that Uber Technologies, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $47.51, for a total value of $4,751,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,316,243 shares in the company, valued at approximately $62,534,704.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on UBER shares. 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. Loop Capital lifted their price target on Uber Technologies from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. DA Davidson reissued a “buy” rating and issued a $62.00 price objective on shares of Uber Technologies in a report on Monday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $58.00 target price on shares of Uber Technologies in a research report on Tuesday, September 5th. Finally, Bank of America increased their price target on shares of Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Thirty-one research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $56.00.

Read Our Latest Report on UBER

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.

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