Asset Management One Co. Ltd. Grows Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 16th, 2023

Asset Management One Co. Ltd. lifted its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 20.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 713,431 shares of the ride-sharing company’s stock after purchasing an additional 120,637 shares during the period. Asset Management One Co. Ltd.’s holdings in Uber Technologies were worth $30,799,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. raised its holdings in shares of Uber Technologies by 66.5% in the 2nd 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 in the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of Uber Technologies by 133.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. Pacifica Partners Inc. purchased a new position in Uber Technologies during the 2nd quarter worth approximately $34,000. Pinnacle Bancorp Inc. acquired a new position in Uber Technologies during the first quarter worth approximately $26,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in Uber Technologies by 89.3% in the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock valued at $27,000 after buying an additional 400 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Up 0.7 %

Shares of NYSE UBER opened at $43.80 on Monday. The stock’s 50-day simple moving average is $45.61 and its 200-day simple moving average is $41.57. Uber Technologies, Inc. has a 1 year low of $23.90 and a 1 year high of $49.49. The firm has a market cap of $89.51 billion, a price-to-earnings ratio of -197.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24.

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Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings results 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 net margin of 1.07% and a negative return on equity of 4.57%. The business had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.34 billion. During the same period in the previous year, the business posted ($1.33) EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UBER. 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 report on Tuesday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Uber Technologies in a research report on Wednesday, September 27th. Wedbush boosted their target price on Uber Technologies from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. JPMorgan Chase & Co. raised their price target on Uber Technologies from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Finally, Barclays boosted their price objective 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. Thirty-one investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $56.00.

Read Our Latest Analysis on UBER

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.