Uber Technologies, Inc. (NYSE:UBER) Position Reduced by Clearbridge Investments LLC

Posted by MarketBeat News on Sep 1st, 2023

Clearbridge Investments LLC reduced its position in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,513,432 shares of the ride-sharing company’s stock after selling 812,828 shares during the period. Clearbridge Investments LLC owned about 0.77% of Uber Technologies worth $491,776,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock valued at $3,202,889,000 after buying an additional 1,368,569 shares during the last quarter. Altimeter Capital Management LP lifted its stake in Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after acquiring an additional 19,260,000 shares during the last quarter. Norges Bank acquired a new position in shares of Uber Technologies during the 4th quarter worth $580,568,000. Capital World Investors raised its holdings in shares of Uber Technologies by 18.5% during the 1st quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock valued at $787,480,000 after purchasing an additional 3,443,554 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Uber Technologies by 3.3% in the first quarter. Fisher Asset Management LLC now owns 20,785,980 shares of the ride-sharing company’s stock worth $658,916,000 after purchasing an additional 660,757 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 30,025 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,351,125.00. Following the completion of the sale, the chief executive officer now owns 1,485,167 shares in the company, valued at approximately $66,832,515. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dara Khosrowshahi sold 30,025 shares of Uber Technologies stock in a transaction that occurred on Monday, June 26th. The shares were 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 owns 1,485,167 shares of the company’s stock, valued at approximately $66,832,515. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nelson Chai sold 100,000 shares of the company’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 sale, the chief financial officer now directly owns 291,807 shares of the company’s stock, valued at approximately $13,145,905.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,642 shares of company stock valued at $14,830,237. 3.84% of the stock is currently owned by insiders.

Uber Technologies Trading Down 0.1 %

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Shares of UBER stock traded down $0.07 on Friday, reaching $47.16. 6,935,577 shares of the stock were exchanged, compared to its average volume of 23,367,369. The stock has a 50 day moving average price of $45.06 and a 200 day moving average price of $38.63. The stock has a market cap of $96.37 billion, a PE ratio of -214.68 and a beta of 1.23. Uber Technologies, Inc. has a one year low of $22.94 and a one year 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 released its 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. 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 for the quarter, compared to the consensus estimate of $9.34 billion. During the same period in the prior year, the company posted ($1.33) EPS. The company’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Uber Technologies, Inc. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their price objective on Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. 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 research note on Tuesday, July 18th. Wedbush raised their target price on shares of Uber Technologies from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Morgan Stanley boosted their price objective on Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Finally, Loop Capital upped their price target on Uber Technologies from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Thirty-one equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $56.00.

View Our Latest Report on UBER

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.