Forsta AP Fonden Purchases 92,200 Shares of Uber Technologies, Inc. (NYSE:UBER)
Posted by MarketBeat News on Oct 26th, 2023
Forsta AP Fonden raised its position in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 30.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 396,500 shares of the ride-sharing company’s stock after purchasing an additional 92,200 shares during the period. Forsta AP Fonden’s holdings in Uber Technologies were worth $17,117,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in UBER. AE Wealth Management LLC grew its position in Uber Technologies by 9.3% during the second quarter. AE Wealth Management LLC now owns 92,267 shares of the ride-sharing company’s stock worth $3,983,000 after buying an additional 7,869 shares in the last quarter. Brandywine Managers LLC purchased a new position in shares of Uber Technologies during the first quarter worth about $539,000. Van Hulzen Asset Management LLC bought a new position in shares of Uber Technologies in the first quarter worth approximately $207,000. Armistice Capital LLC raised its stake in Uber Technologies by 75.0% in the first quarter. Armistice Capital LLC now owns 1,092,000 shares of the ride-sharing company’s stock valued at $34,616,000 after purchasing an additional 468,000 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in Uber Technologies during the first quarter valued at approximately $1,566,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Want More Great Investing Ideas?
- 10 Stocks to Sell NOW!
- 3 Stocks to DOUBLE This Year
- The 10 Best Stocks to Own in 2023
- 7 Stocks to Buy and Hold Forever
UBER has been the topic of a number of research analyst reports. Morgan Stanley increased their price target 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. Mizuho upped their price objective on Uber Technologies from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Citigroup increased their price objective on Uber Technologies from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Uber Technologies in a research report on Wednesday, September 27th. Finally, Jefferies Financial Group increased their price target on shares of Uber Technologies from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Twenty-nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Uber Technologies currently has an average rating of “Buy” and an average target price of $55.55.
View Our Latest Analysis on UBER
Uber Technologies Trading Down 4.5 %
Shares of UBER traded down $1.91 during trading hours on Thursday, reaching $40.44. 5,618,961 shares of the company traded hands, compared to its average volume of 21,994,863. Uber Technologies, Inc. has a 12 month low of $23.90 and a 12 month high of $49.49. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average price is $45.45 and its two-hundred day moving average price is $42.17. The company has a market capitalization of $82.64 billion, a price-to-earnings ratio of -192.49 and a beta of 1.22.
Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share 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 business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.34 billion. During the same period in the previous year, the firm posted ($1.33) EPS. The business’s revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Uber Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.
Uber Technologies Profile
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.
Featured Articles
- Five stocks we like better than Uber Technologies
- What is Forex and How Does it Work?
- Watch for bears as S&P 500 slices 200-day line
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Reasons UPS is a strong sell: Reasons to buy it when it bottoms
- How to Invest in Fertilizer
- 3 hot mid-caps set to report Q3 earnings
Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER – Free Report).
Receive News & Ratings for Uber Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uber Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
You might be interested in:
Monster Beverage Downgraded by Piper Sandler
Regions Financial Price Target Cut to $20.00 by Analysts at Barclays
Greenhill & Co., Inc. Earns Hold Rating from Analysts at StockNews.com
Silgan Downgraded to Sell at StockNews.com
ON Earns Overweight Rating from Analysts at Redburn Atlantic
Holly Energy Partners Research Coverage Started at StockNews.com