Synovus Financial Corp Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Posted by on May 3rd, 2023

Synovus Financial Corp trimmed its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Get Rating) by 19.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,564 shares of the ride-sharing company’s stock after selling 2,085 shares during the period. Synovus Financial Corp’s holdings in Uber Technologies were worth $212,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of UBER. B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Uber Technologies by 5.1% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 74,937 shares of the ride-sharing company’s stock worth $1,853,000 after purchasing an additional 3,638 shares during the period. Ieq Capital LLC lifted its holdings in Uber Technologies by 0.3% during the 4th quarter. Ieq Capital LLC now owns 238,294 shares of the ride-sharing company’s stock valued at $5,893,000 after buying an additional 746 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Uber Technologies by 65.6% during the 4th quarter. Hodges Capital Management Inc. now owns 743,124 shares of the ride-sharing company’s stock valued at $18,378,000 after buying an additional 294,456 shares in the last quarter. Hedges Asset Management LLC lifted its holdings in Uber Technologies by 16.3% during the 4th quarter. Hedges Asset Management LLC now owns 49,850 shares of the ride-sharing company’s stock valued at $1,233,000 after buying an additional 7,000 shares in the last quarter. Finally, Cannell & Co. bought a new stake in Uber Technologies during the 4th quarter valued at about $5,828,000. 71.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Tony West sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $32.54, for a total transaction of $135,594.18. Following the sale, the insider now owns 166,973 shares in the company, valued at $5,433,301.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

UBER has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Wolfe Research reissued an “outperform” rating and set a $45.00 target price on shares of Uber Technologies in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. reissued an “overweight” rating and set a $52.00 target price on shares of Uber Technologies in a research report on Thursday, February 9th. Barclays dropped their target price on shares of Uber Technologies from $54.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 9th. Finally, DA Davidson reissued a “buy” rating and set a $62.00 target price on shares of Uber Technologies in a research report on Thursday, February 9th. Two equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.47.

Uber Technologies Trading Up 11.5 %

NYSE UBER opened at $36.52 on Wednesday. The stock has a market capitalization of $73.55 billion, a P/E ratio of -7.79 and a beta of 1.20. Uber Technologies, Inc. has a 52-week low of $19.90 and a 52-week high of $37.58. The firm has a 50-day moving average price of $31.98 and a 200 day moving average price of $29.95. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.15.

Uber Technologies (NYSE:UBER – Get Rating) last issued its earnings results on Wednesday, February 8th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.50. Uber Technologies had a negative net margin of 28.68% and a negative return on equity of 114.18%. The company had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same period last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. Equities research analysts expect that Uber Technologies, Inc. will post -0.12 EPS for the current year.

Uber Technologies Company Profile

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Uber Technologies, Inc is a technology platform, which engages in the development and operation of technology applications, network, and product to power movement from point A to point B. The firm offers ride services and merchants delivery service providers for meal preparation, grocery and other delivery services.

See Also

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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