Gibbs Wealth Management Raises Holdings in Uber Technologies, Inc. $UBER

Gibbs Wealth Management boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 160.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,957 shares of the ride-sharing company’s stock after buying an additional 7,982 shares during the quarter. Gibbs Wealth Management’s holdings in Uber Technologies were worth $1,269,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of UBER. Vanguard Group Inc. increased its position in Uber Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock worth $17,685,157,000 after purchasing an additional 3,025,483 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Uber Technologies by 2.6% in the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after buying an additional 1,168,288 shares during the last quarter. Norges Bank acquired a new stake in Uber Technologies during the second quarter worth approximately $2,348,319,000. Charles Schwab Investment Management Inc. grew its stake in Uber Technologies by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,810,255 shares of the ride-sharing company’s stock worth $1,288,497,000 after acquiring an additional 142,933 shares during the period. Finally, Legal & General Group Plc raised its holdings in Uber Technologies by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 12,518,594 shares of the ride-sharing company’s stock valued at $1,167,985,000 after acquiring an additional 615,692 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on UBER shares. Guggenheim restated a “buy” rating and set a $135.00 price objective on shares of Uber Technologies in a report on Thursday. Stifel Nicolaus set a $122.00 price target on Uber Technologies in a research note on Tuesday, November 4th. Wedbush dropped their price objective on shares of Uber Technologies from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. TD Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Finally, Susquehanna reiterated a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $107.97.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $83.50, for a total value of $260,937.50. Following the sale, the insider owned 176,584 shares in the company, valued at approximately $14,744,764. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,875 shares of company stock valued at $1,319,130 in the last three months. 3.84% of the stock is currently owned by company insiders.

Trending Headlines about Uber Technologies

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Wall Street support: several firms reiterate/raise buy ratings and high price targets (Guggenheim, Truist, TD Cowen), which underpins upside expectations for UBER. Guggenheim buy rating
• Positive Sentiment: Institutional conviction: Pershing Square and other large holders keep sizable positions in Uber, signaling continued institutional confidence and potential support for the shares. Ackman holds Uber
• Positive Sentiment: Commercial wins: Guzman y Gomez signed an exclusive Uber Eats delivery deal in Australia and Kroger’s nationwide rollout onto Uber apps highlights continued demand for Uber’s delivery platform. Guzman y Gomez Uber Eats deal
• Positive Sentiment: Robotaxi narrative support: bullish investors/strategists (e.g., ARK; Ross Gerber comments) continue to include Uber in the long-term autonomous-vehicle opportunity, supporting the growth story for patient investors. Ross Gerber on robotaxis
• Neutral Sentiment: Analyst/strategy pieces from Zacks and Seeking Alpha argue for long-term upside and momentum, providing frameworks for buy?the?dip cases but noting valuation tradeoffs. Seeking Alpha long-term upside
• Neutral Sentiment: Company messaging: CEO commentary urging investors to separate substantive AI winners from hype may help set investor expectations around which AI initiatives will move the needle. CEO on AI focus
• Negative Sentiment: Autonomy competition risk: Wedbush and other commentators flag accelerating rollouts by Waymo and Tesla as long?term threats to traditional ride?hailing economics; this is pressuring multiples as investors model AV outcomes. Wedbush on AV risk
• Negative Sentiment: New low-cost rivals/tele?operated models: startups claiming much lower per?ride costs could compress margins if they scale in key markets. Rental startup threat
• Negative Sentiment: Legal and governance headlines: a novel lawsuit over a women’s safety feature and recent insider selling (Tony West) add headline risk and may sap short?term sentiment. Lawsuit over safety feature Insider sale SEC filing

Uber Technologies Stock Down 0.4%

Shares of NYSE:UBER opened at $82.26 on Friday. The company has a market capitalization of $170.93 billion, a price-to-earnings ratio of 10.57 and a beta of 1.20. The company has a 50 day moving average of $84.65 and a two-hundred day moving average of $90.75. Uber Technologies, Inc. has a 52-week low of $60.63 and a 52-week high of $101.99. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

About Uber Technologies

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.