Eagle Global Advisors LLC Has $5.08 Million Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 3rd, 2023

Eagle Global Advisors LLC decreased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,605 shares of the ride-sharing company’s stock after selling 9,153 shares during the quarter. Eagle Global Advisors LLC’s holdings in Uber Technologies were worth $5,077,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Uber Technologies by 84,122.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 123,555,492 shares of the ride-sharing company’s stock valued at $5,333,891,000 after acquiring an additional 123,408,790 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Uber Technologies by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock worth $3,202,889,000 after purchasing an additional 1,368,569 shares during the last quarter. Altimeter Capital Management LP raised its stake in shares of Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after purchasing an additional 19,260,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $580,568,000. Finally, Capital World Investors grew its stake in shares of Uber Technologies by 18.5% in the first quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock valued at $787,480,000 after buying an additional 3,443,554 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of recent analyst reports. Loop Capital increased their price target 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. The Goldman Sachs Group lifted their price target on Uber Technologies from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Susquehanna upped their price objective on Uber Technologies from $48.00 to $55.00 and gave the company a “positive” rating in a research note on Wednesday, August 2nd. JMP Securities lifted their target price on Uber Technologies from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Wolfe Research increased their price target on Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Thirty-one analysts have rated the stock with a buy rating, According to MarketBeat.com, Uber Technologies currently has an average rating of “Buy” and an average target price of $56.00.

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Insiders Place Their Bets

In related 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 value of $4,505,000.00. Following the completion of the transaction, the chief financial officer now owns 291,807 shares in the company, valued at approximately $13,145,905.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

UBER stock traded down $0.96 during trading on Tuesday, reaching $44.72. 4,501,962 shares of the company were exchanged, compared to its average volume of 22,585,758. The company has a market capitalization of $91.39 billion, a price-to-earnings ratio of -207.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.23. The company has a 50-day moving average of $45.92 and a two-hundred day moving average of $40.68. Uber Technologies, Inc. has a twelve month low of $22.94 and a twelve month high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $9.34 billion. During the same period in the prior year, the business earned ($1.33) earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Uber Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

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.

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