Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Steel Peak Wealth Management LLC

Posted by MarketBeat News on Oct 27th, 2023

Steel Peak Wealth Management LLC trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 83.3% during the second quarter, HoldingsChannel.com reports. The firm owned 10,391 shares of the ride-sharing company’s stock after selling 51,909 shares during the period. Steel Peak Wealth Management LLC’s holdings in Uber Technologies were worth $449,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. raised its position in shares of Uber Technologies by 66.5% in the 2nd quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock valued at $28,000 after purchasing an additional 260 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Uber Technologies by 133.8% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Uber Technologies during the 2nd quarter valued at approximately $34,000. Hanseatic Management Services Inc. acquired a new stake in shares of Uber Technologies during the 2nd quarter valued at approximately $42,000. Finally, MCF Advisors LLC acquired a new stake in shares of Uber Technologies during the 1st quarter valued at approximately $32,000. 74.07% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Trading Down 4.1 %

Shares of UBER stock opened at $40.63 on Friday. The stock has a 50-day simple moving average of $45.39 and a 200 day simple moving average of $42.16. Uber Technologies, Inc. has a fifty-two week low of $23.90 and a fifty-two week high of $49.49. The stock has a market capitalization of $83.02 billion, a P/E ratio of -184.65 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98.

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Uber Technologies (NYSE:UBER – Get Free Report) last announced its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.19. Uber Technologies had a negative return on equity of 4.57% and a negative net margin of 1.07%. The business had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $9.34 billion. During the same quarter last year, the business posted ($1.33) earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, CFO Nelson Chai sold 100,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $45.05, for a total value of $4,505,000.00. Following the completion of the transaction, the chief financial officer now owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UBER. JPMorgan Chase & Co. upped their price target on Uber Technologies from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Bank of America upped their price target on Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Wells Fargo & Company upped their price target on Uber Technologies from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. Truist Financial dropped their price target on Uber Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Finally, Wolfe Research upped their price target on Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Twenty-nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $55.55.

Get Our Latest Analysis on Uber Technologies

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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