Aaron Wealth Advisors LLC Boosts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 9th, 2023

Aaron Wealth Advisors LLC raised its stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,596 shares of the ride-sharing company’s stock after purchasing an additional 637 shares during the period. Aaron Wealth Advisors LLC’s holdings in Uber Technologies were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UBER. American Century Companies Inc. grew its stake in 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 purchasing an additional 5,142 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Uber Technologies during the first quarter worth about $3,359,000. Panagora Asset Management Inc. grew its stake in shares of Uber Technologies by 29.3% during the first quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock worth $808,000 after acquiring an additional 5,134 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Uber Technologies by 11.7% during the first quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock worth $938,000 after acquiring an additional 2,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Uber Technologies by 17.3% during 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 acquiring an additional 168,475 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UBER. 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. Sanford C. Bernstein boosted their price target on Uber Technologies from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of Uber Technologies in a research note on Tuesday, September 5th. Mizuho boosted their price target on Uber Technologies from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Citigroup lifted their target price on Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Thirty-one 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.

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Uber Technologies Trading Down 1.9 %

Shares of UBER traded down $0.88 during midday trading on Monday, reaching $44.90. The company had a trading volume of 4,627,642 shares, compared to its average volume of 22,388,090. Uber Technologies, Inc. has a 1-year low of $22.94 and a 1-year high of $49.49. The firm has a 50 day simple moving average of $45.73 and a 200-day simple moving average of $41.04. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.34 billion. During the same period last year, the company earned ($1.33) EPS. The company’s revenue for the quarter 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.

Insider Transactions at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of the 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 directly owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.84% of the company’s stock.

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.