Alliancebernstein L.P. Sells 94,348 Shares of Uber Technologies, Inc. $UBER

Key Points

• Alliancebernstein L.P. has reduced its holdings in Uber Technologies by selling 94,348 shares, decreasing its stake by 2.3% to approximately 4.09 million shares.
• Uber Technologies recently reported an earnings per share (EPS) of $0.63 for the quarter, exceeding the consensus estimate of $0.61, and achieving a revenue of $12.65 billion.
• Several analysts have upgraded their target prices for Uber, with Susquehanna raising theirs to $105.00, reflecting a bullish outlook on the company's stock.

Alliancebernstein L.P. lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,086,515 shares of the ride-sharing company's stock after selling 94,348 shares during the quarter. Alliancebernstein L.P. owned 0.20% of Uber Technologies worth $297,743,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after buying an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. lifted its stake in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Toyota Motor Corp bought a new position in Uber Technologies during the fourth quarter worth $309,192,000. Boston Partners increased its position in Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after buying an additional 2,749,456 shares during the period. Finally, Baillie Gifford & Co. acquired a new stake in Uber Technologies in the first quarter worth $167,532,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was 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 represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,696 shares of company stock valued at $4,632,774. Company insiders own 3.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Royal Bank Of Canada increased their price target on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. DA Davidson increased their price target on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. One research 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded down $1.09 on Friday, hitting $90.89. 20,364,649 shares of the company were exchanged, compared to its average volume of 14,781,707. The company's 50 day moving average price is $92.42 and its two-hundred day moving average price is $84.01. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $189.54 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.05 and a beta of 1.43.

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

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.