Tanager Wealth Management LLP Reduces Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 27th, 2023

Tanager Wealth Management LLP trimmed its holdings in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 34.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,506 shares of the ride-sharing company’s stock after selling 7,477 shares during the quarter. Tanager Wealth Management LLP’s holdings in Uber Technologies were worth $626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of Uber Technologies by 28.7% in the first quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock valued at $822,000 after acquiring an additional 5,142 shares in the last quarter. MetLife Investment Management LLC bought a new position in Uber Technologies in the first quarter worth about $3,359,000. Panagora Asset Management Inc. raised its holdings in Uber Technologies by 29.3% in the first quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock worth $808,000 after purchasing an additional 5,134 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Uber Technologies by 11.7% in the first quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock worth $938,000 after purchasing an additional 2,756 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Uber Technologies by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock worth $40,838,000 after purchasing an additional 168,475 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

Uber Technologies Trading Up 1.6 %

Shares of UBER stock opened at $41.29 on Friday. 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 has a market cap of $84.38 billion, a price-to-earnings ratio of -184.65 and a beta of 1.22. The stock has a 50 day simple moving average of $45.39 and a 200-day simple moving average of $42.16. Uber Technologies, Inc. has a 1-year low of $23.90 and a 1-year high of $49.49.

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Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS 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 firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.34 billion. During the same period in the prior year, the company earned ($1.33) EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts expect that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on UBER shares. BTIG Research boosted their target price on shares of Uber Technologies from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Uber Technologies in a research note on Wednesday, September 27th. Jefferies Financial Group boosted their price target on Uber Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Truist Financial dropped their price target on Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Finally, Citigroup boosted their price target on Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Twenty-nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Uber Technologies currently has an average rating of “Buy” and a consensus price target of $55.55.

Get Our Latest Analysis on UBER

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the company’s 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 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 document filed with the SEC, which can be accessed through this link. 3.84% of the stock is owned by corporate 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.