Canvas Wealth Advisors LLC Sells 5,368 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 7th, 2023

Canvas Wealth Advisors LLC trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,774 shares of the ride-sharing company’s stock after selling 5,368 shares during the period. Uber Technologies makes up approximately 3.1% of Canvas Wealth Advisors LLC’s holdings, making the stock its 11th largest holding. Canvas Wealth Advisors LLC’s holdings in Uber Technologies were worth $8,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in Uber Technologies during the first quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Uber Technologies by 89.3% in the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Raleigh Capital Management Inc. boosted 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 worth $28,000 after acquiring an additional 260 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings 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 worth $30,000 after acquiring an additional 400 shares in the last quarter. Finally, MCF Advisors LLC acquired a new position in shares of Uber Technologies in the 1st quarter worth approximately $32,000. 74.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America upped their price objective on Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Roth Mkm upped their price objective on Uber Technologies from $46.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Citigroup upped their target price on shares of Uber Technologies from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. DA Davidson reiterated a “buy” rating and set a $62.00 target price on shares of Uber Technologies in a research report on Monday, July 31st. Finally, Susquehanna upped their target price on shares of Uber Technologies from $48.00 to $55.00 and gave the company a “positive” rating in a research report on Wednesday, August 2nd. Thirty-one research 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.

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Uber Technologies Stock Up 2.6 %

Shares of Uber Technologies stock traded up $1.17 during trading hours on Friday, reaching $45.78. 14,380,568 shares of the company’s stock were exchanged, compared to its average volume of 16,162,373. Uber Technologies, Inc. has a fifty-two week low of $22.94 and a fifty-two week high of $49.49. The stock has a market cap of $93.55 billion, a P/E ratio of -208.08 and a beta of 1.22. The company has a 50 day moving average of $45.73 and a two-hundred day moving average of $40.92. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98.

Uber Technologies (NYSE:UBER – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share 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%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.33) EPS. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were 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 of the company’s stock, valued at $13,145,905.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.