Wright Investors Service Inc. Takes $242,000 Position in Uber Technologies, Inc. (NYSE:UBER)

Posted by MarketBeat News on Oct 12th, 2023

Wright Investors Service Inc. acquired a new position in Uber Technologies, Inc. (NYSE:UBER – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,605 shares of the ride-sharing company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UBER. Pinnacle Bancorp Inc. acquired a new position in shares of Uber Technologies in the 1st quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in Uber Technologies by 89.3% in the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock valued at $27,000 after buying an additional 400 shares during the period. Raleigh Capital Management Inc. lifted its position in Uber Technologies by 66.5% in the 2nd quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock worth $28,000 after buying an additional 260 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Uber Technologies by 133.8% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 400 shares during the period. Finally, MCF Advisors LLC purchased a new position in shares of Uber Technologies during the 1st quarter valued at $32,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other news, CFO Nelson Chai sold 100,000 shares of Uber Technologies stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $45.05, for a total value of $4,505,000.00. Following the completion of the sale, the chief financial officer now directly owns 291,807 shares in the company, valued at $13,145,905.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Trading Down 0.0 %

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Uber Technologies stock opened at $46.63 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. The stock has a 50-day simple moving average of $45.64 and a 200 day simple moving average of $41.29. The stock has a market capitalization of $95.28 billion, a P/E ratio of -211.92 and a beta of 1.22. Uber Technologies, Inc. has a 52 week low of $23.90 and a 52 week high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last posted 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 business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. Uber Technologies had a negative return on equity of 4.57% and a negative net margin of 1.07%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.33) EPS. Analysts expect that Uber Technologies, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

UBER has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Uber Technologies from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of Uber Technologies in a report on Tuesday, September 5th. Barclays lifted their target price on shares of Uber Technologies from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Tigress Financial initiated coverage on shares of Uber Technologies in a research note on Friday, July 21st. They set a “buy” rating and a $66.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Uber Technologies in a research note on Wednesday, September 27th. Thirty-one research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.00.

Check Out Our Latest Research Report on Uber Technologies

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.

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