Benchmark Starts Coverage of Uber Technologies (SWX:UBER) with a Neutral Outlook

Published On: October 26, 2024 12:54 pm

Benchmark Issues Hold on Uber Technologies Amidst Rising Institutional Interest

On October 25, 2024, Benchmark began its analysis of Uber Technologies (SWX:UBER) by issuing a Hold recommendation.

Institutional Investment Trends

Currently, 2,942 funds or institutions have reported their stakes in Uber Technologies, reflecting an increase of 72 owners, or 2.51%, from the previous quarter. The average portfolio weight for all funds invested in UBER is 0.65%, marking a 10.11% rise. Over the last three months, total shares held by institutions grew by 8.24%, reaching 2,014,372K shares.

Actions from Major Shareholders

CH:UBER / Uber Technologies, Inc. Shares Held by Institutions

Public Investment Fund maintains a strong position with 72,841K shares, accounting for 3.47% of the company, showing no change over the last quarter.

JPMorgan Chase holds 71,838K shares, which represents 3.42% ownership. They previously reported 70,286K shares, marking an increase of 2.16%. However, their overall portfolio allocation to UBER decreased by 6.30% in the last quarter.

Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) owns 62,727K shares, equivalent to 2.99% ownership, up from 62,010K in the prior filing, an increase of 1.14%. Similarly, they reduced their portfolio allocation in UBER by 7.14% last quarter.

Vanguard 500 Index Fund Investor Shares (VFINX) holds 53,629K shares, representing 2.55% ownership. This is up from 51,859K shares previously, reflecting a 3.30% increase, but with a 7.59% decrease in portfolio allocation in the last quarter.

Capital Research Global Investors has significantly increased its stake, now holding 53,030K shares, which is 2.52% of the company, up from 39,948K shares. This represents a substantial increase of 24.67%, with their portfolio allocation to UBER increasing by 21.53% over the last quarter.

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