Lindbrook Capital LLC Increases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 17th, 2023

Lindbrook Capital LLC increased its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 60.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,154 shares of the ride-sharing company’s stock after buying an additional 1,192 shares during the quarter. Lindbrook Capital LLC’s holdings in Uber Technologies were worth $136,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its position in Uber Technologies by 84,122.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 123,555,492 shares of the ride-sharing company’s stock worth $5,333,891,000 after acquiring an additional 123,408,790 shares during the period. Norges Bank acquired a new position in Uber Technologies during the fourth quarter worth $580,568,000. Altimeter Capital Management LP raised its position in Uber Technologies by 167.5% during the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after acquiring an additional 19,260,000 shares during the period. Davidson Kempner Capital Management LP raised its position in Uber Technologies by 104.0% during the first quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock worth $15,850,000 after acquiring an additional 13,000,000 shares during the period. Finally, Steadfast Capital Management LP acquired a new position in Uber Technologies during the fourth quarter worth $178,126,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Nelson Chai sold 100,000 shares of Uber Technologies stock in a transaction 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 transaction, the chief financial officer now directly owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

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Shares of Uber Technologies stock opened at $44.71 on Tuesday. The firm’s fifty day simple moving average is $45.61 and its 200-day simple moving average is $41.66. The stock has a market capitalization of $91.37 billion, a price-to-earnings ratio of -203.23 and a beta of 1.22. Uber Technologies, Inc. has a 12 month low of $23.90 and a 12 month high of $49.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.24 and a quick ratio of 1.23.

Uber Technologies (NYSE:UBER – Get Free Report) last announced 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. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.33) EPS. As a group, equities analysts forecast that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UBER. Citigroup upped their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Sanford C. Bernstein increased their target price on shares of Uber Technologies from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Susquehanna increased their target price on shares of Uber Technologies from $48.00 to $55.00 and gave the company a “positive” rating in a research report on Wednesday, August 2nd. The Goldman Sachs Group raised their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, JMP Securities raised their price objective on shares of Uber Technologies from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Thirty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $56.00.

Check Out Our Latest Stock Report on UBER

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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