Cwm LLC Purchases 240,479 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 28th, 2023

Cwm LLC boosted its position in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 1,787.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,935 shares of the ride-sharing company’s stock after buying an additional 240,479 shares during the period. Cwm LLC’s holdings in Uber Technologies were worth $10,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC increased its holdings in Uber Technologies by 9.3% during the 2nd quarter. AE Wealth Management LLC now owns 92,267 shares of the ride-sharing company’s stock worth $3,983,000 after purchasing an additional 7,869 shares in the last quarter. Brandywine Managers LLC bought a new stake in Uber Technologies during the 1st quarter worth approximately $539,000. Van Hulzen Asset Management LLC bought a new stake in Uber Technologies during the 1st quarter worth approximately $207,000. Armistice Capital LLC increased its holdings in Uber Technologies by 75.0% during the 1st quarter. Armistice Capital LLC now owns 1,092,000 shares of the ride-sharing company’s stock worth $34,616,000 after purchasing an additional 468,000 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in Uber Technologies during the 1st quarter worth approximately $1,566,000. 74.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of recent research reports. Loop Capital boosted their price objective on Uber Technologies from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Truist Financial reduced their target price on Uber Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Sanford C. Bernstein upped their target price on Uber Technologies from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Wedbush upped their target price on Uber Technologies from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Finally, BTIG Research upped their target price on Uber Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Twenty-nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Uber Technologies presently has an average rating of “Buy” and an average target price of $55.55.

Want More Great Investing Ideas?

View Our Latest Stock Report on UBER

Uber Technologies Trading Up 1.5 %

NYSE:UBER opened at $41.23 on Friday. The company has a market cap of $84.25 billion, a P/E ratio of -187.40 and a beta of 1.22. The stock’s fifty day moving average price is $45.32 and its two-hundred day moving average price is $42.23. Uber Technologies, Inc. has a 1 year low of $23.90 and a 1 year high of $49.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.23.

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, 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 company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.34 billion. During the same quarter last year, the business posted ($1.33) earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts expect that Uber Technologies, Inc. will post 0.41 EPS for the current year.

Insider Buying and Selling

In related 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 value of $4,505,000.00. Following the sale, the chief financial officer now owns 291,807 shares in the company, valued at $13,145,905.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.84% of the stock is currently owned by company 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.

Featured Articles

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER – Free Report).

Receive News & Ratings for Uber Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uber Technologies and related companies with MarketBeat.com's FREE daily email newsletter.