Ameritas Advisory Services LLC Sells 3,402 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by Defense World Staff on Jul 23rd, 2023

Ameritas Advisory Services LLC cut its stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 23.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,313 shares of the ride-sharing company’s stock after selling 3,402 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Uber Technologies were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Uber Technologies in the fourth quarter worth about $580,568,000. Altimeter Capital Management LP raised its position in shares of Uber Technologies by 167.5% during the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after buying an additional 19,260,000 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Uber Technologies by 6,754.1% in the fourth quarter. Point72 Asset Management L.P. now owns 9,808,165 shares of the ride-sharing company’s stock worth $242,556,000 after buying an additional 9,955,565 shares in the last quarter. Steadfast Capital Management LP bought a new position in shares of Uber Technologies during the fourth quarter worth $178,126,000. Finally, Scge Management L.P. bought a new stake in Uber Technologies in the 4th quarter valued at $155,008,000. 73.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 12,501 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $37.85, for a total value of $473,162.85. Following the completion of the transaction, the insider now directly owns 181,750 shares of the company’s stock, valued at approximately $6,879,237.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Tony West sold 12,501 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $37.85, for a total transaction of $473,162.85. Following the completion of the transaction, the insider now owns 181,750 shares in the company, valued at approximately $6,879,237.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 644 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $41.00, for a total transaction of $26,404.00. Following the completion of the sale, the insider now owns 128,916 shares of the company’s stock, valued at $5,285,556. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,143 shares of company stock valued at $10,798,399. 3.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UBER. Jefferies Financial Group raised 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 reiterated an “outperform” rating and set a $46.00 target price on shares of Uber Technologies in a research report on Tuesday, March 28th. Sanford C. Bernstein boosted their price target on shares of Uber Technologies from $45.00 to $50.00 in a research report on Monday, June 26th. Barclays increased their price objective on shares of Uber Technologies from $45.00 to $57.00 in a research report on Friday, June 23rd. Finally, Morgan Stanley boosted their target price on shares of Uber Technologies from $54.00 to $57.00 in a report on Wednesday, May 3rd. Twenty-nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $51.31.

Uber Technologies Price Performance

UBER stock opened at $47.23 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.06 and a current ratio of 1.06. Uber Technologies, Inc. has a 1-year low of $22.14 and a 1-year high of $47.90. The business has a 50-day moving average price of $41.84 and a 200 day moving average price of $35.62.

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

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.