Adero Partners LLC Sells 4,000 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 23rd, 2023

Adero Partners LLC decreased its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 10.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,794 shares of the ride-sharing company’s stock after selling 4,000 shares during the period. Adero Partners LLC’s holdings in Uber Technologies were worth $1,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Alpine Woods Capital Investors LLC grew its holdings in shares of Uber Technologies by 25.4% during the second quarter. Alpine Woods Capital Investors LLC now owns 130,411 shares of the ride-sharing company’s stock valued at $5,630,000 after buying an additional 26,411 shares during the last quarter. GW Henssler & Associates Ltd. purchased a new stake in shares of Uber Technologies during the second quarter valued at $239,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Uber Technologies by 3.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 519,330 shares of the ride-sharing company’s stock valued at $22,419,000 after buying an additional 19,600 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Uber Technologies by 3.2% during the second quarter. Yousif Capital Management LLC now owns 25,390 shares of the ride-sharing company’s stock valued at $1,096,000 after buying an additional 794 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in shares of Uber Technologies during the second quarter valued at $724,000. Institutional investors own 74.07% of the company’s stock.

Uber Technologies Stock Up 1.4 %

Shares of NYSE UBER traded up $0.60 during mid-day trading on Monday, reaching $43.56. The company had a trading volume of 4,739,819 shares, compared to its average volume of 22,107,275. 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 firm has a 50 day simple moving average of $45.51 and a two-hundred day simple moving average of $42.00. The stock has a market cap of $89.02 billion, a P/E ratio of -195.26 and a beta of 1.22. Uber Technologies, Inc. has a 52-week low of $23.90 and a 52-week high of $49.49.

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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. 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 for the quarter, compared to the consensus estimate of $9.34 billion. During the same period last year, the firm posted ($1.33) EPS. Uber Technologies’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts predict that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on UBER. Bank of America boosted their target price on shares of Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Loop Capital boosted their target price on shares of Uber Technologies from $48.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 14th. The Goldman Sachs Group upped their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of Uber Technologies in a research report on Tuesday, September 5th. Finally, Jefferies Financial Group upped their price objective on shares of Uber Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Thirty-one research analysts have rated the stock with a buy rating, According to MarketBeat, Uber Technologies currently has an average rating of “Buy” and an average price target of $56.00.

Get Our Latest Stock Analysis on UBER

Insiders Place Their Bets

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

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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