Uber Technologies, Inc. $UBER Shares Sold by Bridger Management LLC

Key Points

• Bridger Management LLC sold 48,000 shares of Uber, reducing its stake by 16.6% to 241,471 shares, which now represent 8.7% of their total holdings.
• Institutional investors have been active, with Pacer Advisors Inc. increasing its stake by 2,571.2% to over $473 million, while 80.24% of Uber's stock is owned by these investors.
• Despite insider selling activity, analysts maintain a positive outlook, with the consensus price target for Uber Technologies set at $102.82 and multiple "buy" ratings issued by research firms.

Bridger Management LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 16.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,471 shares of the ride-sharing company's stock after selling 48,000 shares during the period. Uber Technologies comprises approximately 8.7% of Bridger Management LLC's investment portfolio, making the stock its 3rd biggest holding. Bridger Management LLC's holdings in Uber Technologies were worth $17,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clark Capital Management Group Inc. increased its holdings in Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after buying an additional 399,008 shares during the last quarter. UMB Bank n.a. boosted its position in Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after purchasing an additional 3,073 shares during the period. Revolve Wealth Partners LLC boosted its position in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the period. Mufg Securities Americas Inc. bought a new position in Uber Technologies during the fourth quarter worth $1,875,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Uber Technologies during the first quarter worth $943,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Price Performance

UBER traded down $1.09 on Friday, hitting $90.89. 20,364,649 shares of the stock were exchanged, compared to its average volume of 14,781,707. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The business has a 50-day moving average of $92.42 and a two-hundred day moving average of $84.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick 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 posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush reduced their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on shares of Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America lifted their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Roth Capital lifted their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. 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. According to data from MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Activity

In related news, insider Tony West sold 3,125 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the sale, the insider owned 170,269 shares of the company's stock, valued at $16,175,555. This represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is owned by company insiders.

Uber Technologies 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.