The Vanguard Group, Inc. recently announced the acquisition of new stake in Uber Technologies Inc (NYSE:UBER). The institutional investor has increased its shareholding in the Technology company by 1.69% to 120.03 million shares with purchase of 1.99 million shares. This fresh investment now brings its stake to 5.83% valued currently at $7.39 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.49 million to 64.23 million shares. And Wellington Management Co. LLP has lifted its position by 50.49% or 18.46 million shares – to 55.03 million shares.
With over 25.96 million Uber Technologies Inc (UBER) shares trading Friday and a closing price of $63.20 on the day, the dollar volume was approximately $1.64 billion. The shares have shown a positive half year performance of 41.23% and its price on 01/12/24 lost nearly -0.43%. Currently, there are 2.01B common shares owned by the public and among those 1.98B shares have been available to trade.
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Insiders at the company have transacted a total of 520 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 248 of these insider trades were purchases, accounting for 847,312 shares. Insider sales of the common stock occurred on 272 occasions, with total insider shares sold totaling 1,127,789 shares.
The top 3 mutual fund holders in Uber Technologies Inc are Vanguard Total Stock Market ETF, American Funds Growth Fund of Ame, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 60.85 million shares of the company’s stock, all valued at over $3.75 billion. The company bought an additional 73706.0 shares recently to bring their total holdings to about 2.96% of the shares outstanding. American Funds Growth Fund of Ame bought 16.21 million shares to see its total holdings expand to 40.16 million shares valued at over $2.47 billion and representing 1.95% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.5 million shares to bring its total holdings to over 29.62 million shares at a value of $1.82 billion. Vanguard Extended Market Index Fu now owns shares totaling to 1.44% of the shares outstanding.
Shares of Uber Technologies Inc (NYSE: UBER) opened at $63.20, down -$0.27 from a prior closing price of $63.47. However, the script later moved the day high at 64.92, down -0.43%. The company’s stock has a 5-day price change of 9.76% and 37.54% over the past three months. UBER shares are trading 2.65% year to date (YTD), with the 12-month market performance up to 122.93% higher. It has a 12-month low price of $28.20 and touched a high of $63.61 over the same period. UBER has an average intraday trading volume of 31.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.50%, 10.98%, and 39.21% respectively.
Institutional ownership of Uber Technologies Inc (NYSE: UBER) shares accounts for 74.28% of the company’s 2.01B shares outstanding. Mutual fund holders own 29.53%, while other institutional holders and individual stakeholders account for 45.07% and 13.00% respectively.
It has a market capitalization of $130.06B and a beta (3y monthly) value of 1.33. The stock’s trailing 12-month PE ratio is 127.32, while the earnings-per-share (ttm) stands at $0.50. The company has a PEG of 5.49 and a Quick Ratio of 1.14 with the debt-to-equity ratio at 1.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.12% over the week and 2.60% over the month.
Analysts forecast that Uber Technologies Inc (UBER) will achieve an EPS of $0.17 for the current quarter, $0.21 for the next quarter and $1.17 for 2024. The lowest estimate earnings-per-share for the quarter is $0.06 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to increase by 108.20%, and 188.83% over the next financial year. EPS should grow at an annualized rate of 23.17% over the next five years, compared to -14.17% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 51 brokerage firm advisors rate Uber Technologies Inc (UBER) as a “Strong Buy” at a consensus score of 1.24. Specifically, 42 Wall Street analysts polled rate the stock as a buy, while 3 of the 51 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UBER, a number of firms have released research notes about the stock. BMO Capital Markets stated their Outperform rating for the stock in a research note on January 09, 2024, with the firm’s price target at $69.
