Simon Quick Advisors LLC Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 21st, 2023

Simon Quick Advisors LLC purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,307 shares of the ride-sharing company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UBER. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Uber Technologies by 84,122.1% during the 2nd 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 purchasing an additional 123,408,790 shares during the last quarter. Norges Bank purchased a new stake in Uber Technologies in the 4th quarter worth approximately $580,568,000. Altimeter Capital Management LP increased its holdings in Uber Technologies by 167.5% in the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after acquiring an additional 19,260,000 shares in the last quarter. Davidson Kempner Capital Management LP increased its holdings in Uber Technologies by 104.0% in the 1st quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock worth $15,850,000 after acquiring an additional 13,000,000 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in Uber Technologies in the 4th quarter worth approximately $178,126,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of Uber Technologies stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $45.05, for a total value of $4,505,000.00. Following the transaction, the chief financial officer now owns 291,807 shares in the company, valued at $13,145,905.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.84% of the stock is owned by insiders.

Uber Technologies Stock Performance

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Shares of Uber Technologies stock opened at $42.96 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. Uber Technologies, Inc. has a 12 month low of $23.90 and a 12 month high of $49.49. The stock’s fifty day moving average price is $45.51 and its 200-day moving average price is $41.85.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. During the same quarter in the previous year, the firm earned ($1.33) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna increased their target price on shares of Uber Technologies from $48.00 to $55.00 and gave the stock a “positive” rating in a report on Wednesday, August 2nd. Morgan Stanley increased their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Uber Technologies in a report on Tuesday, September 5th. Tigress Financial assumed coverage on shares of Uber Technologies in a report on Friday, July 21st. They set a “buy” rating and a $66.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Thirty-one investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.00.

Check Out Our Latest Stock Report 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.