Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Archford Capital Strategies LLC

Posted by MarketBeat News on Oct 24th, 2023

Archford Capital Strategies LLC decreased its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 2.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 29,456 shares of the ride-sharing company’s stock after selling 864 shares during the quarter. Archford Capital Strategies LLC’s holdings in Uber Technologies were worth $1,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich grew its position in Uber Technologies by 84,122.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 123,555,492 shares of the ride-sharing company’s stock worth $5,333,891,000 after buying an additional 123,408,790 shares during the last quarter. Vanguard Group Inc. grew its position in 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 worth $3,202,889,000 after purchasing an additional 1,368,569 shares in the last quarter. Altimeter Capital Management LP grew its position in Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after purchasing an additional 19,260,000 shares in the last quarter. Norges Bank purchased a new position in Uber Technologies during the 4th quarter worth approximately $580,568,000. Finally, Capital World Investors grew its position in 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 worth $787,480,000 after purchasing an additional 3,443,554 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on UBER. Citigroup lifted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Wolfe Research lifted their price objective on shares of Uber Technologies from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. BTIG Research lifted their price objective on shares of Uber Technologies from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Sanford C. Bernstein lifted their price objective on shares of Uber Technologies from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Morgan Stanley lifted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Thirty-one equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Buy” and a consensus target price of $56.00.

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Uber Technologies Stock Performance

Uber Technologies stock traded up $0.88 on Tuesday, reaching $43.92. 3,223,351 shares of the stock were exchanged, compared to its average volume of 22,039,863. The stock has a market cap of $89.75 billion, a PE ratio of -195.67 and a beta of 1.22. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.98. Uber Technologies, Inc. has a twelve month low of $23.90 and a twelve month high of $49.49. The firm has a fifty day moving average price of $45.48 and a two-hundred day moving average price of $42.08.

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 for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.19. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.33) EPS. Sell-side analysts anticipate that Uber Technologies, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 291,807 shares of the company’s stock, valued at approximately $13,145,905.35. 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 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.