Benchmark Holds Steady on Uber as Institutional Interest Grows
Fintel reports that on October 25, 2024, Benchmark initiated coverage of Uber Technologies (WBAG:UBER) with a Hold recommendation.
Growing Institutional Interest in Uber
Currently, there are 2,942 funds or institutions reporting positions in Uber Technologies. This marks an increase of 72 owners, or 2.51%, over the last quarter. The average portfolio weight of all funds dedicated to UBER now stands at 0.65%, reflecting a notable rise of 10.11%. Over the past three months, total shares owned by institutions have increased by 8.24%, reaching 2,014,372K shares.
Public Investment Fund holds 72,841K shares, translating to a 3.47% ownership stake in Uber, unchanged from the previous quarter.
Meanwhile, JPMorgan Chase owns 71,838K shares, equivalent to a 3.42% stake. In its last report, the firm listed 70,286K shares, showing an increase of 2.16%. However, it reduced its portfolio allocation in UBER by 6.30% in the latest quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has 62,727K shares, indicating 2.99% ownership. Previously, it reported 62,010K shares, marking a 1.14% increase. This firm also decreased its allocation in UBER by 7.14% during the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 53,629K shares, representing a 2.55% stake. It previously owned 51,859K shares, showcasing a 3.30% increase, though it reduced its portfolio allocation by 7.59% over the last quarter.
Capital Research Global Investors possesses 53,030K shares, equating to a 2.52% ownership. The firm reported an ownership of 39,948K shares last period, which signifies a substantial 24.67% increase. Additionally, it raised its portfolio allocation by 21.53% in the latest quarter.
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This story originally appeared on Fintel.
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