HB Wealth Management LLC Sells 1,035 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by Defense World Staff on Jun 27th, 2023

HB Wealth Management LLC lessened its position in shares of Uber Technologies, Inc. (NYSE:UBER – Get Rating) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,212 shares of the ride-sharing company’s stock after selling 1,035 shares during the period. HB Wealth Management LLC’s holdings in Uber Technologies were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UBER. Norges Bank bought a new position in shares of Uber Technologies during the fourth quarter worth about $580,568,000. Altimeter Capital Management LP raised its holdings in shares of Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after purchasing an additional 19,260,000 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Uber Technologies by 6,754.1% in the fourth quarter. Point72 Asset Management L.P. now owns 9,808,165 shares of the ride-sharing company’s stock worth $242,556,000 after purchasing an additional 9,955,565 shares in the last quarter. Tiger Global Management LLC grew its position in Uber Technologies by 1,501.7% in the third quarter. Tiger Global Management LLC now owns 9,923,073 shares of the ride-sharing company’s stock valued at $262,961,000 after purchasing an additional 9,303,523 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new stake in Uber Technologies during the 4th quarter worth about $178,126,000. Institutional investors and hedge funds own 73.90% of the company’s stock.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Uber Technologies from $44.00 to $46.00 in a research report on Wednesday, May 3rd. Needham & Company LLC upped their price objective on Uber Technologies from $54.00 to $56.00 in a research note on Wednesday, May 3rd. Citigroup raised their target price on shares of Uber Technologies from $55.00 to $57.00 in a research note on Wednesday, May 3rd. Mizuho upped their price target on shares of Uber Technologies from $50.00 to $55.00 in a research report on Wednesday, May 3rd. Finally, Sanford C. Bernstein raised their price objective on Uber Technologies from $45.00 to $50.00 in a research report on Monday. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $49.81.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $44.43 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average of $37.98 and a 200-day moving average of $33.15. Uber Technologies, Inc. has a 1-year low of $19.90 and a 1-year high of $45.04.

Uber Technologies (NYSE:UBER – Get Rating) last released its earnings results on Tuesday, May 2nd. The ride-sharing company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Uber Technologies had a negative return on equity of 43.94% and a negative net margin of 9.95%. The firm had revenue of $8.82 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the prior year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. Research analysts expect that Uber Technologies, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 16,664 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $42.00, for a total transaction of $699,888.00. Following the completion of the transaction, the insider now owns 164,693 shares of the company’s stock, valued at $6,917,106. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jill Hazelbaker sold 644 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $26,404.00. Following the sale, the insider now owns 128,916 shares of the company’s stock, valued at approximately $5,285,556. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tony West sold 16,664 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $42.00, for a total value of $699,888.00. Following the sale, the insider now owns 164,693 shares in the company, valued at approximately $6,917,106. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock valued at $1,547,399 over the last ninety days. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Company Profile

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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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