AlTi Global Inc. Cuts Stock Position in Uber Technologies, Inc. $UBER

Key Points

• AlTi Global Inc. has reduced its stake in Uber Technologies by 1.2%, now owning approximately $36.78 million worth of shares, placing Uber as its 18th biggest holding.
• In the first quarter, Pacer Advisors Inc. dramatically increased its holdings in Uber by 2,571.2%, now owning over 6.4 million shares valued at approximately $473 million.
• Insiders at Uber Technologies sold a total of 48,696 shares worth about $4.63 million over the past ninety days, with corporate insiders owning 3.70% of the company’s stock.

AlTi Global Inc. reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 504,756 shares of the ride-sharing company's stock after selling 6,341 shares during the period. Uber Technologies makes up approximately 1.0% of AlTi Global Inc.'s portfolio, making the stock its 18th biggest position. AlTi Global Inc.'s holdings in Uber Technologies were worth $36,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Northern Trust Corp grew its position in Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after acquiring an additional 720,122 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Uber Technologies by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock valued at $995,801,000 after acquiring an additional 394,157 shares in the last quarter. Boston Partners grew its position in Uber Technologies by 43.8% in the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after acquiring an additional 2,749,456 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Down 1.2%

UBER stock traded down $1.09 during trading on Friday, hitting $90.89. 20,364,649 shares of the company's stock were exchanged, compared to its average volume of 14,781,707. The business has a 50-day moving average price of $92.42 and a two-hundred day moving average price of $84.01. The stock 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, Inc. has a 52-week low of $59.33 and a 52-week high of $97.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating 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 company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the previous year, the business earned $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, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,696 shares of company stock worth $4,632,774 in the last three months. Corporate insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on UBER. Wells Fargo & Company boosted their price objective on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday. Cantor Fitzgerald reissued 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. Raymond James Financial boosted their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. Morgan Stanley reissued an "overweight" rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Finally, Barclays reissued an "overweight" rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. One equities 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. According to data from MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

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.