Uber Technologies, Inc. (NYSE:UBER) Shares Purchased by Lincoln National Corp

Posted by Defense World Staff on Jul 24th, 2023

Lincoln National Corp grew its position in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,526 shares of the ride-sharing company’s stock after purchasing an additional 1,053 shares during the period. Lincoln National Corp’s holdings in Uber Technologies were worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sandy Spring Bank grew its stake in Uber Technologies by 36.4% in the 4th quarter. Sandy Spring Bank now owns 1,240 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 331 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Uber Technologies by 11.8% in the 1st quarter. AdvisorNet Financial Inc now owns 3,183 shares of the ride-sharing company’s stock valued at $101,000 after purchasing an additional 337 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Uber Technologies by 10.8% during the 4th quarter. Harbour Investments Inc. now owns 3,494 shares of the ride-sharing company’s stock valued at $86,000 after buying an additional 340 shares during the period. Cigna Investments Inc. New increased its holdings in shares of Uber Technologies by 1.8% during the 4th quarter. Cigna Investments Inc. New now owns 20,219 shares of the ride-sharing company’s stock worth $500,000 after buying an additional 358 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Uber Technologies by 0.6% in the 4th quarter. Transcend Capital Advisors LLC now owns 59,149 shares of the ride-sharing company’s stock worth $1,463,000 after buying an additional 379 shares during the period. 73.90% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $47.23 on Monday. The company’s 50-day moving average price is $41.84 and its two-hundred day moving average price is $35.69. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.12. Uber Technologies, Inc. has a 52 week low of $22.14 and a 52 week high of $47.90.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The ride-sharing company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $8.82 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Uber Technologies had a negative return on equity of 43.94% and a negative net margin of 9.95%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Equities research analysts expect that Uber Technologies, Inc. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total value of $4,751,000.00. Following the completion of the sale, the chief executive officer now owns 1,316,243 shares in the company, valued at approximately $62,534,704.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Dara Khosrowshahi sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $47.51, for a total value of $4,751,000.00. Following the transaction, the chief executive officer now owns 1,316,243 shares in the company, valued at approximately $62,534,704.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 16,664 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $42.00, for a total transaction of $699,888.00. Following the sale, the insider now owns 164,693 shares of the company’s stock, valued at $6,917,106. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 238,143 shares of company stock valued at $10,798,399. 3.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UBER. Jefferies Financial Group boosted their price objective on shares of Uber Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Bank of America boosted their price target on Uber Technologies from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. BTIG Research increased their price objective on shares of Uber Technologies from $50.00 to $55.00 in a research report on Wednesday, June 28th. Needham & Company LLC boosted their target price on shares of Uber Technologies from $54.00 to $56.00 in a research report on Wednesday, May 3rd. Finally, TheStreet raised shares of Uber Technologies from a “d” rating to a “c-” rating in a research note on Tuesday, May 2nd. Twenty-nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $51.31.

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.