1832 Asset Management L.P. Cuts Holdings in Uber Technologies, Inc. $UBER

Key Points

• 1832 Asset Management L.P. reduced its holdings in Uber Technologies by 48.7%, bringing its stake to approximately **$100.69 million** with 1,381,968 shares remaining.
• Currently, about 80.24% of Uber's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Multiple analysts recently upgraded their price targets for Uber Technologies, with a consensus target price of $102.82 and most ratings leaning towards a "buy".

1832 Asset Management L.P. cut its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 48.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,381,968 shares of the ride-sharing company's stock after selling 1,311,522 shares during the quarter. 1832 Asset Management L.P. owned about 0.07% of Uber Technologies worth $100,690,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Monetary Management Group Inc. raised its stake in shares of Uber Technologies by 35.6% in the first quarter. Monetary Management Group Inc. now owns 14,115 shares of the ride-sharing company's stock valued at $1,028,000 after buying an additional 3,705 shares during the period. Compound Planning Inc. raised its stake in shares of Uber Technologies by 15.4% in the first quarter. Compound Planning Inc. now owns 40,499 shares of the ride-sharing company's stock valued at $2,951,000 after buying an additional 5,394 shares during the period. Norinchukin Bank The raised its stake in shares of Uber Technologies by 18.4% in the first quarter. Norinchukin Bank The now owns 139,690 shares of the ride-sharing company's stock valued at $10,178,000 after buying an additional 21,728 shares during the period. CW Advisors LLC raised its stake in shares of Uber Technologies by 704.7% in the first quarter. CW Advisors LLC now owns 233,362 shares of the ride-sharing company's stock valued at $17,005,000 after buying an additional 204,363 shares during the period. Finally, Summit Financial LLC raised its stake in shares of Uber Technologies by 57.2% in the first quarter. Summit Financial LLC now owns 35,793 shares of the ride-sharing company's stock valued at $2,608,000 after buying an additional 13,022 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Stock Up 2.6%

Shares of NYSE:UBER traded up $2.4720 during trading on Friday, hitting $96.7020. The stock had a trading volume of 15,568,337 shares, compared to its average volume of 18,985,768. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The company has a market capitalization of $201.66 billion, a PE ratio of 16.47, a PEG ratio of 1.11 and a beta of 1.43. The firm's fifty day moving average is $91.08 and its 200 day moving average is $83.02. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UBER. Roth Capital boosted their price objective on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Tigress Financial set a $110.00 price objective on Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Piper Sandler boosted their price objective on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Company Profile

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.