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

Posted by MarketBeat News on Oct 13th, 2023

Calamos Wealth Management LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 206,971 shares of the ride-sharing company’s stock after selling 2,012 shares during the quarter. Calamos Wealth Management LLC’s holdings in Uber Technologies were worth $8,935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Uber Technologies by 28.7% during the first quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock valued at $822,000 after buying an additional 5,142 shares during the period. MetLife Investment Management LLC bought a new stake in Uber Technologies during the 1st quarter worth approximately $3,359,000. Panagora Asset Management Inc. lifted its stake in Uber Technologies by 29.3% in the 1st 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 boosted its holdings in Uber Technologies by 11.7% in the 1st quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock valued at $938,000 after purchasing an additional 2,756 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Uber Technologies by 17.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock valued at $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 Down 2.4 %

Shares of UBER traded down $1.09 during mid-day trading on Friday, hitting $44.86. 5,637,298 shares of the company’s stock traded hands, compared to its average volume of 22,215,344. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $91.67 billion, a P/E ratio of -208.85 and a beta of 1.22. The business’s 50-day moving average price is $45.64 and its 200-day moving average price is $41.32. 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 issued its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.34 billion. During the same period in the previous year, the firm earned ($1.33) EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UBER shares. BTIG Research lifted their price objective on Uber Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Roth Mkm lifted their price target on Uber Technologies from $46.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Wells Fargo & Company upped their price objective on shares of Uber Technologies from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Oppenheimer lifted their target price on shares of Uber Technologies from $55.00 to $65.00 in a research report on Wednesday, June 21st. Finally, Bank of America increased their price target on shares of Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Thirty-one investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $56.00.

Check Out Our Latest Stock Analysis on UBER

Insider Buying and Selling

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the company’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 transaction of $4,505,000.00. Following the transaction, the chief financial officer now owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.84% of the stock is owned by insiders.

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.

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