Adage Capital Partners GP L.L.C. Has $104.63 Million Stock Position in Uber Technologies, Inc. $UBER

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Uber Technologies by 16.2%, now holding 1,436,100 shares valued at approximately $104.63 million.
• Uber reported a EPS of $0.63 for the recent quarter, exceeding analyst expectations, with revenue of $12.65 billion, representing an 18.2% year-over-year increase.
• Hedge funds and institutional investors control 80.24% of Uber's shares, with notable changes in positions from firms like Brighton Jones LLC and Baird Financial Group Inc.

Adage Capital Partners GP L.L.C. lowered its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,436,100 shares of the ride-sharing company's stock after selling 277,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.07% of Uber Technologies worth $104,634,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC lifted its stake in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after acquiring an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in Uber Technologies during the 4th quarter valued at about $395,000. Bison Wealth LLC grew its position in Uber Technologies by 20.3% during the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after purchasing an additional 641 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in Uber Technologies by 52.2% in the 4th quarter. Baird Financial Group Inc. now owns 207,634 shares of the ride-sharing company's stock worth $12,524,000 after purchasing an additional 71,206 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER opened at $93.80 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The company's fifty day moving average price is $92.39 and its 200 day moving average price is $83.73. The company has a market capitalization of $195.61 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on UBER shares. UBS Group boosted their price target on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Raymond James Financial lifted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group increased their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $102.82.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider directly owned 170,269 shares in the company, valued at $16,175,555. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,696 shares of company stock worth $4,632,774. 3.70% of the stock is owned by insiders.

About Uber Technologies

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.

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