Uber Technologies, Inc. (NYSE:UBER) Shares Sold by SCP Investment LP

Posted by MarketBeat News on Oct 23rd, 2023

SCP Investment LP lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 33.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,000 shares of the ride-sharing company’s stock after selling 300,000 shares during the quarter. Uber Technologies comprises about 21.0% of SCP Investment LP’s holdings, making the stock its 2nd largest position. SCP Investment LP’s holdings in Uber Technologies were worth $25,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of UBER. Bank Julius Baer & Co. Ltd Zurich increased its position in 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 worth $5,333,891,000 after purchasing an additional 123,408,790 shares in the last quarter. Vanguard Group Inc. increased its position in Uber Technologies by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock worth $3,202,889,000 after purchasing an additional 1,368,569 shares in the last quarter. Altimeter Capital Management LP increased its position in Uber Technologies by 167.5% during 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 purchasing an additional 19,260,000 shares in the last quarter. Norges Bank acquired a new stake in Uber Technologies during the 4th quarter worth approximately $580,568,000. Finally, Capital World Investors increased its position in Uber Technologies by 18.5% during the 1st quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock worth $787,480,000 after purchasing an additional 3,443,554 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Insider Buying and Selling

In related news, CFO Nelson Chai sold 100,000 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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A number of equities analysts have weighed in on UBER shares. Bank of America upped their price target on Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Tigress Financial started coverage on Uber Technologies in a report on Friday, July 21st. They issued a “buy” rating and a $66.00 price target for the company. Wedbush upped their price target on Uber Technologies from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Mizuho upped their price target on Uber Technologies from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Wolfe Research increased their target price on Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Thirty-one analysts have rated the stock with a buy rating, According to MarketBeat, Uber Technologies currently has a consensus rating of “Buy” and an average price target of $56.00.

Get Our Latest Analysis on UBER

Uber Technologies Stock Performance

Shares of UBER traded up $0.85 during trading hours on Monday, reaching $43.81. 5,715,977 shares of the company’s stock traded hands, compared to its average volume of 22,109,980. The firm has a market capitalization of $89.53 billion, a price-to-earnings ratio of -195.26 and a beta of 1.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.23. Uber Technologies, Inc. has a twelve month low of $23.90 and a twelve month high of $49.49. The business’s fifty day simple moving average is $45.51 and its two-hundred day simple moving average is $42.00.

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, beating analysts’ consensus estimates of ($0.01) by $0.19. The company had revenue of $9.23 billion for the quarter, compared to analyst estimates 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 last year, the company earned ($1.33) earnings per share. Analysts predict that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

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.