Bristlecone Advisors LLC Lowers Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Bristlecone Advisors LLC lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 54.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,079 shares of the ride-sharing company's stock after selling 35,983 shares during the period. Bristlecone Advisors LLC's holdings in Uber Technologies were worth $2,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in UBER. Hudson Canyon Capital Management acquired a new position in Uber Technologies during the first quarter worth approximately $1,807,000. Caisse Des Depots ET Consignations increased its position in Uber Technologies by 17.8% during the first quarter. Caisse Des Depots ET Consignations now owns 91,079 shares of the ride-sharing company's stock worth $6,636,000 after buying an additional 13,752 shares during the period. AlphaCore Capital LLC increased its position in Uber Technologies by 12.2% during the first quarter. AlphaCore Capital LLC now owns 14,095 shares of the ride-sharing company's stock worth $1,027,000 after buying an additional 1,529 shares during the period. Flagship Wealth Advisors LLC increased its holdings in shares of Uber Technologies by 38.6% in the first quarter. Flagship Wealth Advisors LLC now owns 1,975 shares of the ride-sharing company's stock valued at $144,000 after purchasing an additional 550 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Uber Technologies by 10.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,600,733 shares of the ride-sharing company's stock valued at $262,349,000 after purchasing an additional 349,437 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

UBER has been the topic of a number of recent research reports. Bank of America boosted their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays upped their target price on Uber Technologies from $97.00 to $110.00 and gave the company an "overweight" rating in a research note on Thursday. Tigress Financial set a $110.00 price target on Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. Raymond James Financial upped their price target on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Finally, Canaccord Genuity Group restated a "hold" rating and set a $84.00 price target (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $92.59 on Friday. The stock has a fifty day moving average price of $89.33 and a two-hundred day moving average price of $80.91. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.11. The firm has a market cap of $193.63 billion, a P/E ratio of 15.77, a PEG ratio of 1.03 and a beta of 1.43. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71.

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 for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The company's revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS. Research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.

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