TTP Investments Inc. Acquires New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 8th, 2023

TTP Investments Inc. acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 40,233 shares of the ride-sharing company’s stock, valued at approximately $1,737,000. Uber Technologies makes up approximately 1.1% of TTP Investments Inc.’s portfolio, making the stock its 14th largest position.

Other hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC grew its stake in Uber Technologies by 9.3% in the 2nd quarter. AE Wealth Management LLC now owns 92,267 shares of the ride-sharing company’s stock worth $3,983,000 after buying an additional 7,869 shares in the last quarter. Brandywine Managers LLC bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $539,000. Van Hulzen Asset Management LLC bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $207,000. Armistice Capital LLC lifted its holdings in shares of Uber Technologies by 75.0% in the 1st quarter. Armistice Capital LLC now owns 1,092,000 shares of the ride-sharing company’s stock worth $34,616,000 after acquiring an additional 468,000 shares during the last quarter. Finally, Vinva Investment Management Ltd bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $1,566,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UBER shares. BTIG Research boosted their price objective on shares of Uber Technologies from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Barclays boosted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Wedbush boosted their price objective on shares of Uber Technologies from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Roth Mkm boosted their price objective on shares of Uber Technologies from $46.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, JPMorgan Chase & Co. upped 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 MarketBeat.com, the company has an average rating of “Buy” and an average price target of $56.00.

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Uber Technologies Price Performance

Shares of NYSE UBER opened at $45.78 on Friday. Uber Technologies, Inc. has a 1 year low of $22.94 and a 1 year high of $49.49. The firm has a 50-day moving average of $45.73 and a 200 day moving average of $40.98. 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 issued its quarterly earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.19. The company had revenue of $9.23 billion during 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 last year, the company posted ($1.33) EPS. Research analysts anticipate that Uber Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, 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 document filed with the SEC, which can be accessed through the SEC website. 3.84% of the stock is owned by company insiders.

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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