Traynor Capital Management Inc. Boosts Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 14th, 2023

Traynor Capital Management Inc. increased its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,173 shares of the ride-sharing company’s stock after purchasing an additional 765 shares during the quarter. Traynor Capital Management Inc.’s holdings in Uber Technologies were worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UBER. American Century Companies Inc. grew its holdings 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 valued at $822,000 after buying an additional 5,142 shares during the period. MetLife Investment Management LLC purchased a new stake in Uber Technologies in the 1st quarter valued at about $3,359,000. Panagora Asset Management Inc. grew its holdings in Uber Technologies by 29.3% in the 1st quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock valued at $808,000 after buying an additional 5,134 shares during the period. Yousif Capital Management LLC grew its holdings in Uber Technologies by 11.7% in the 1st quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock valued at $938,000 after buying an additional 2,756 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Uber Technologies by 17.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock valued at $40,838,000 after buying an additional 168,475 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total transaction of $4,751,000.00. Following the completion of the transaction, the chief executive officer now owns 1,316,243 shares of the company’s stock, valued at approximately $62,534,704.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.84% of the company’s stock.

Uber Technologies Trading Down 5.4 %

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NYSE UBER traded down $2.47 on Friday, hitting $43.48. 28,215,656 shares of the stock were exchanged, compared to its average volume of 22,335,467. Uber Technologies, Inc. has a 52-week low of $23.90 and a 52-week 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. The company has a market capitalization of $88.85 billion, a price-to-earnings ratio of -197.65 and a beta of 1.22. The company’s 50-day moving average price is $45.61 and its two-hundred day moving average price is $41.41.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 EPS for the quarter, beating the consensus estimate 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%. Uber Technologies’s 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. Research analysts predict that Uber Technologies, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Uber Technologies from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Barclays increased their price target on Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Mizuho upped their price objective on shares of Uber Technologies from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Loop Capital upped their price objective on shares of Uber Technologies from $48.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Thirty-one investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $56.00.

Check Out Our Latest Report on Uber Technologies

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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