Avaii Wealth Management LLC Decreases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 17th, 2023

Avaii Wealth Management LLC lowered its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 39.3% during the second quarter, HoldingsChannel reports. The firm owned 6,826 shares of the ride-sharing company’s stock after selling 4,413 shares during the period. Avaii Wealth Management LLC’s holdings in Uber Technologies were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in Uber Technologies during the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of 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 worth $27,000 after buying an additional 400 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Uber Technologies by 66.5% in the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock worth $28,000 after buying an additional 260 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in Uber Technologies by 133.8% in the second quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. Finally, MCF Advisors LLC bought a new position in Uber Technologies during the 1st quarter valued at $32,000. 74.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of recent analyst reports. Loop Capital upped their target price on shares of Uber Technologies from $48.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 14th. JMP Securities increased their target price on Uber Technologies from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. The Goldman Sachs Group lifted their target price on Uber Technologies from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. upped their price target on Uber Technologies from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Financial Group raised their price objective on Uber Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Thirty-one investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $56.00.

Want More Great Investing Ideas?

Get Our Latest Stock Report on Uber Technologies

Uber Technologies Stock Performance

UBER stock traded up $0.15 during trading on Tuesday, reaching $44.86. 3,297,908 shares of the company’s stock were exchanged, compared to its average volume of 22,225,479. The firm has a market cap of $91.67 billion, a PE ratio of -201.59 and a beta of 1.22. 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, Inc. has a 1-year low of $23.90 and a 1-year high of $49.49. The company’s fifty day moving average price is $45.61 and its 200-day moving average price is $41.66.

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

Insider Activity at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of Uber Technologies 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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.84% of the company’s stock.

Uber Technologies Company 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.