Uber Technologies, Inc. (NYSE:UBER) Position Cut by Hudson Value Partners LLC

Posted by MarketBeat News on Oct 24th, 2023

Hudson Value Partners LLC trimmed its stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,650 shares of the ride-sharing company’s stock after selling 1,025 shares during the quarter. Hudson Value Partners LLC’s holdings in Uber Technologies were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. increased its holdings in shares of Uber Technologies by 66.5% during the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock valued at $28,000 after purchasing an additional 260 shares during the period. Krilogy Financial LLC increased its holdings in shares of Uber Technologies by 0.5% during the second quarter. Krilogy Financial LLC now owns 57,233 shares of the ride-sharing company’s stock valued at $2,471,000 after purchasing an additional 262 shares during the period. Core Alternative Capital increased its holdings in shares of Uber Technologies by 13.4% during the second quarter. Core Alternative Capital now owns 2,242 shares of the ride-sharing company’s stock valued at $97,000 after purchasing an additional 265 shares during the period. Virtue Capital Management LLC increased its holdings in shares of Uber Technologies by 3.7% during the second quarter. Virtue Capital Management LLC now owns 7,564 shares of the ride-sharing company’s stock valued at $330,000 after purchasing an additional 269 shares during the period. Finally, Telemus Capital LLC increased its holdings in shares of Uber Technologies by 4.2% during the second quarter. Telemus Capital LLC now owns 7,371 shares of the ride-sharing company’s stock valued at $318,000 after purchasing an additional 296 shares during the period. 74.07% of the stock is currently owned by institutional investors.

Uber Technologies Stock Up 1.7 %

NYSE UBER traded up $0.73 during trading on Tuesday, reaching $43.77. 7,309,067 shares of the company’s stock were exchanged, compared to its average volume of 22,064,713. Uber Technologies, Inc. has a fifty-two week low of $23.90 and a fifty-two week high of $49.49. The firm has a market capitalization of $89.44 billion, a PE ratio of -195.67 and a beta of 1.22. 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 company’s fifty day simple moving average is $45.48 and its 200-day simple moving average is $42.08.

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Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.19. The firm had revenue of $9.23 billion during 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 business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted ($1.33) EPS. Sell-side analysts predict that Uber Technologies, Inc. will post 0.42 EPS for the current year.

Insider Activity

In other 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 transaction of $4,505,000.00. Following the completion of the sale, the chief financial officer now directly owns 291,807 shares in the company, valued at approximately $13,145,905.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UBER. Truist Financial lowered their price target on Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Uber Technologies in a report on Tuesday, September 5th. JPMorgan Chase & Co. lifted their target price on Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Bank of America lifted their target price on Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Uber Technologies in a report on Wednesday, September 27th. Thirty-one equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $56.00.

View Our Latest Stock Report on Uber Technologies

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.