Dearborn Partners LLC Sells 2,200 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 29th, 2023

Dearborn Partners LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 10.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,080 shares of the ride-sharing company’s stock after selling 2,200 shares during the period. Dearborn Partners LLC’s holdings in Uber Technologies were worth $781,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. AE Wealth Management LLC lifted its position in shares of Uber Technologies by 9.3% in the 2nd quarter. AE Wealth Management LLC now owns 92,267 shares of the ride-sharing company’s stock worth $3,983,000 after acquiring an additional 7,869 shares during the period. Brandywine Managers LLC acquired a new stake in Uber Technologies during the first quarter worth $539,000. Van Hulzen Asset Management LLC bought a new stake in Uber Technologies in the 1st quarter valued at $207,000. Armistice Capital LLC raised its stake in shares of Uber Technologies by 75.0% in the 1st quarter. Armistice Capital LLC now owns 1,092,000 shares of the ride-sharing company’s stock valued at $34,616,000 after buying an additional 468,000 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in shares of Uber Technologies during the 1st quarter worth about $1,566,000. 74.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 291,807 shares of the company’s stock, valued at $13,145,905.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Up 1.5 %

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Shares of NYSE:UBER opened at $41.23 on Friday. The firm’s 50 day simple moving average is $45.32 and its 200 day simple moving average is $42.31. Uber Technologies, Inc. has a fifty-two week low of $23.90 and a fifty-two week high of $49.49. 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 posted its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share for the quarter, topping 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 company had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. During the same period last year, the business posted ($1.33) earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on UBER shares. Truist Financial dropped their price target on shares of Uber Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. BTIG Research upped their price target on Uber Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. DA Davidson reissued a “buy” rating and set a $62.00 price objective on shares of Uber Technologies in a report on Monday, July 31st. Citigroup lifted their price target on shares of Uber Technologies from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Twenty-nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $55.55.

Read Our Latest Stock Analysis on UBER

About Uber Technologies

(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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