57,450 Shares in Uber Technologies, Inc. (NYSE:UBER) Acquired by Picton Mahoney Asset Management

Posted by MarketBeat News on Oct 27th, 2023

Picton Mahoney Asset Management purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,450 shares of the ride-sharing company’s stock, valued at approximately $2,480,000.

Other institutional investors have also made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 7,869 shares during the period. Brandywine Managers LLC acquired a new stake in Uber Technologies in the first quarter valued at approximately $539,000. Van Hulzen Asset Management LLC acquired a new stake in Uber Technologies in the first quarter valued at approximately $207,000. Armistice Capital LLC lifted 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 acquiring an additional 468,000 shares during the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in Uber Technologies in the first quarter valued at approximately $1,566,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $13,145,905.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.84% of the company’s stock.

Uber Technologies Trading Down 4.1 %

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Shares of Uber Technologies stock opened at $40.63 on Friday. The firm has a market capitalization of $83.02 billion, a PE ratio of -184.65 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. The company’s fifty day moving average price is $45.39 and its two-hundred day moving average price is $42.16. Uber Technologies, Inc. has a 52-week low of $23.90 and a 52-week high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly 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. The firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.33) EPS. On average, analysts expect that Uber Technologies, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Roth Mkm lifted their target price on shares of Uber Technologies from $46.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. DA Davidson reiterated a “buy” rating and issued a $62.00 target price on shares of Uber Technologies in a research note on Monday, July 31st. Truist Financial dropped their price target on shares of Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Wedbush lifted their price target on shares of Uber Technologies from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Twenty-nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $55.55.

View Our Latest 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.

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