Uber Technologies, Inc. (NYSE:UBER) is Maverick Capital Ltd.’s 8th Largest Position

Posted by MarketBeat News on Sep 11th, 2023

Maverick Capital Ltd. trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 36.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,869,755 shares of the ride-sharing company’s stock after selling 1,628,123 shares during the quarter. Uber Technologies accounts for approximately 2.3% of Maverick Capital Ltd.’s portfolio, making the stock its 8th largest holding. Maverick Capital Ltd. owned about 0.14% of Uber Technologies worth $90,971,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Uber Technologies by 28.7% during the 1st quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock worth $822,000 after purchasing an additional 5,142 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Uber Technologies during the first quarter worth about $3,359,000. Panagora Asset Management Inc. lifted its position in shares of Uber Technologies by 29.3% during the 1st quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock valued at $808,000 after acquiring an additional 5,134 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Uber Technologies by 11.7% during the 1st quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock worth $938,000 after acquiring an additional 2,756 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 168,475 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 1.5 %

Shares of UBER stock traded up $0.71 during trading hours on Monday, reaching $47.95. The company had a trading volume of 8,747,233 shares, compared to its average volume of 23,142,320. The company has a market capitalization of $97.99 billion, a P/E ratio of -218.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. Uber Technologies, Inc. has a twelve month low of $22.94 and a twelve month high of $49.49. The stock’s fifty day simple moving average is $45.43 and its 200 day simple moving average is $39.18.

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Uber Technologies (NYSE:UBER – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.34 billion. During the same quarter last year, the company earned ($1.33) earnings per share. Uber Technologies’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UBER shares. 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 research report on Thursday, July 27th. Bank of America upped their target price on Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. BTIG Research upped their price objective on Uber Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Susquehanna lifted their price objective on Uber Technologies from $48.00 to $55.00 and gave the stock a “positive” rating in a research report on Wednesday, August 2nd. Finally, Tigress Financial initiated coverage on shares of Uber Technologies in a report on Friday, July 21st. They issued a “buy” rating and a $66.00 target price on the stock. Thirty-one investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $56.00.

View Our Latest Analysis on UBER

Insider Buying and Selling

In related news, insider Tony West sold 16,664 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $42.00, for a total value of $699,888.00. Following the completion of the transaction, the insider now owns 164,693 shares of the company’s stock, valued at $6,917,106. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Tony West sold 16,664 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $42.00, for a total value of $699,888.00. Following the sale, the insider now directly owns 164,693 shares of the company’s stock, valued at $6,917,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 30,025 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $45.00, for a total transaction of $1,351,125.00. Following the transaction, the chief executive officer now directly owns 1,485,167 shares in the company, valued at approximately $66,832,515. The disclosure for this sale can be found here. Insiders have sold 324,998 shares of company stock valued at $14,803,833 in the last quarter. Company insiders own 3.84% of the company’s stock.

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.

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