2,840 Shares in Uber Technologies, Inc. $UBER Acquired by Trueblood Wealth Management LLC

Key Points

• Trueblood Wealth Management LLC acquired 2,840 shares of Uber Technologies, Inc., valued at approximately $265,000, during the second quarter of 2023.
• Uber Technologies reported a quarterly EPS of $0.63, beating estimates, with a revenue of $12.65 billion, up 18.2% year-over-year.
• Insider Tony West sold 100,000 shares of Uber stock for $10.04 million, representing a 36.82% decrease in his holdings.

Trueblood Wealth Management LLC acquired a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,840 shares of the ride-sharing company's stock, valued at approximately $265,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies during the first quarter worth $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its position in shares of Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the period. Pacer Advisors Inc. boosted its position in shares of Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after buying an additional 6,254,898 shares during the period. Vanguard Group Inc. boosted its position in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the period. Finally, Boston Partners boosted its position in shares of Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after buying an additional 2,749,456 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Down 2.2%

Uber Technologies stock opened at $97.87 on Wednesday. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $204.10 billion, a PE ratio of 16.67 and a beta of 1.48. The stock's fifty day moving average is $94.33 and its two-hundred day moving average is $87.47.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Tony West sold 100,000 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock worth $58,659,491 in the last three months. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on UBER shares. Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Barclays restated an "overweight" rating and set a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Susquehanna raised their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Wedbush decreased their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Stifel Nicolaus lifted their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $104.03.

About Uber Technologies

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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