Hanseatic Management Services Inc. Acquires New Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 8th, 2023

Hanseatic Management Services Inc. acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 971 shares of the ride-sharing company’s stock, valued at approximately $42,000.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its position in Uber Technologies by 28.7% in the 1st quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock worth $822,000 after purchasing an additional 5,142 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $3,359,000. Panagora Asset Management Inc. increased its stake in shares of Uber Technologies by 29.3% in the first quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock valued at $808,000 after purchasing an additional 5,134 shares during the period. Yousif Capital Management LLC increased its stake in shares of Uber Technologies by 11.7% in the first quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock valued at $938,000 after purchasing an additional 2,756 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Uber Technologies by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock valued at $40,838,000 after purchasing an additional 168,475 shares during the period. Institutional investors own 74.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on UBER. Oppenheimer raised their price target on shares of Uber Technologies from $55.00 to $65.00 in a research note on Wednesday, June 21st. Mizuho increased their price objective on shares of Uber Technologies from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Wolfe Research increased their price objective on shares of Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Uber Technologies from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Thirty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $56.00.

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Uber Technologies Trading Up 2.6 %

UBER stock traded up $1.17 during midday trading on Friday, reaching $45.78. The company had a trading volume of 14,380,568 shares, compared to its average volume of 16,162,373. Uber Technologies, Inc. has a 1 year low of $22.94 and a 1 year high of $49.49. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average of $45.73 and a two-hundred day moving average of $40.98.

Uber Technologies (NYSE:UBER – Get Free Report) last released its earnings results 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 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 quarter in the prior year, the firm earned ($1.33) EPS. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction 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 owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction 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.

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.