IFM Investors Pty Ltd Increases Stake in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 12th, 2023

IFM Investors Pty Ltd increased its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 31.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 343,924 shares of the ride-sharing company’s stock after acquiring an additional 83,114 shares during the quarter. IFM Investors Pty Ltd’s holdings in Uber Technologies were worth $14,847,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Pinnacle Bancorp Inc. purchased a new position in Uber Technologies during the 1st quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Uber Technologies by 89.3% during the first quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after acquiring an additional 400 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Uber Technologies by 66.5% during the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock valued at $28,000 after acquiring an additional 260 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Uber Technologies by 133.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 400 shares during the last quarter. Finally, MCF Advisors LLC acquired a new stake in Uber Technologies in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Uber Technologies Stock Performance

NYSE UBER opened at $46.63 on Thursday. The stock has a fifty day simple moving average of $45.64 and a 200-day simple moving average of $41.29. 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 stock has a market cap of $95.28 billion, a PE ratio of -211.92 and a beta of 1.22. Uber Technologies, Inc. has a twelve month low of $23.90 and a twelve month high of $49.49.

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Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $9.34 billion. During the same quarter in the prior year, the company posted ($1.33) earnings per share. Uber Technologies’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies 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 owns 291,807 shares of the company’s stock, valued at $13,145,905.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on UBER shares. Oppenheimer raised their price target on shares of Uber Technologies from $55.00 to $65.00 in a report on Wednesday, June 21st. Truist Financial dropped their price target on Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of Uber Technologies in a research note on Tuesday, September 5th. Roth Mkm upped their target price on Uber Technologies from $46.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, Susquehanna raised their price target on shares of Uber Technologies from $48.00 to $55.00 and gave the stock a “positive” rating in a research report on Wednesday, August 2nd. Thirty-one analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $56.00.

Check Out 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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