GAM Holding AG Takes $10.21 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 11th, 2023

GAM Holding AG acquired a new position in Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 236,445 shares of the ride-sharing company’s stock, valued at approximately $10,207,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its stake in 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 purchasing an additional 7,869 shares in the last quarter. Brandywine Managers LLC purchased a new stake in shares of Uber Technologies in the first quarter worth $539,000. Van Hulzen Asset Management LLC bought a new stake in Uber Technologies during the first quarter valued at $207,000. Armistice Capital LLC grew its position in Uber Technologies by 75.0% during the first quarter. Armistice Capital LLC now owns 1,092,000 shares of the ride-sharing company’s stock worth $34,616,000 after buying an additional 468,000 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in Uber Technologies in the 1st quarter worth about $1,566,000. 74.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of the business’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 value of $4,505,000.00. Following the sale, the chief financial officer now directly owns 291,807 shares of the company’s stock, valued at approximately $13,145,905.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

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A number of equities analysts have commented on UBER shares. Wolfe Research boosted their price target on shares of Uber Technologies from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Mizuho increased their target price on Uber Technologies from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Citigroup lifted their price target on Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company raised their price objective on Uber Technologies from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Finally, Tigress Financial started coverage on Uber Technologies in a research report on Friday, July 21st. They issued a “buy” rating and a $66.00 target price for the company. Thirty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.00.

Check Out Our Latest Stock Report on Uber Technologies

Uber Technologies Stock Up 0.5 %

UBER traded up $0.22 during trading on Wednesday, reaching $46.85. The stock had a trading volume of 5,269,857 shares, compared to its average volume of 22,292,090. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $95.74 billion, a price-to-earnings ratio of -211.99 and a beta of 1.22. The stock’s 50 day moving average is $45.65 and its two-hundred day moving average is $41.26. Uber Technologies, Inc. has a one year low of $23.90 and a one year high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last issued 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 analyst estimates of $9.34 billion. During the same period last year, the business earned ($1.33) EPS. Uber Technologies’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts expect that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

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.