Shell Asset Management Co. Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 14th, 2023

Shell Asset Management Co. decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 17.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,524 shares of the ride-sharing company’s stock after selling 12,093 shares during the quarter. Shell Asset Management Co.’s holdings in Uber Technologies were worth $2,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in UBER. Raleigh Capital Management Inc. boosted its holdings in Uber Technologies by 66.5% in the second quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock worth $28,000 after purchasing an additional 260 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Uber Technologies by 133.8% in the second quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Pacifica Partners Inc. bought a new position in Uber Technologies in the second quarter worth approximately $34,000. Pinnacle Bancorp Inc. bought a new position in Uber Technologies in the first quarter worth approximately $26,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in Uber Technologies by 89.3% in 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 period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Analyst Ratings Changes

UBER has been the topic of several recent research reports. The Goldman Sachs Group increased their price target 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. Barclays raised their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Truist Financial decreased their price objective on shares of Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price target on shares of Uber Technologies in a report on Tuesday, September 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Uber Technologies from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Thirty-one analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $56.00.

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Insider Buying and Selling

In related news, CFO Nelson Chai sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Trading Down 5.4 %

NYSE:UBER opened at $43.49 on Friday. Uber Technologies, Inc. has a one year low of $23.90 and a one year high of $49.49. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. The firm has a market cap of $88.86 billion, a P/E ratio of -197.65 and a beta of 1.22. The firm has a 50-day simple moving average of $45.61 and a 200-day simple moving average of $41.41.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.19. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. Uber Technologies’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.33) EPS. Equities analysts anticipate that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

Uber Technologies Company 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.