Eminence Capital LP Trims Stake in Uber Technologies, Inc. $UBER

Key Points

• Eminence Capital LP reduced its investment in Uber Technologies, Inc. by 30.9%, bringing its total holdings to approximately $114.29 million and making Uber its 26th largest investment.
• Multiple analysts have recently raised their price targets for Uber Technologies, with Bank of America increasing its target from $97.00 to $115.00 and maintaining a "buy" rating.
• Uber Technologies reported a net revenue of $12.65 billion for the last quarter, exceeding analyst estimates, and achieved $0.63 EPS, surpassing the consensus estimate of $0.61.

Eminence Capital LP trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 30.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,568,685 shares of the ride-sharing company's stock after selling 700,476 shares during the period. Uber Technologies accounts for about 1.9% of Eminence Capital LP's portfolio, making the stock its 26th biggest holding. Eminence Capital LP owned approximately 0.08% of Uber Technologies worth $114,294,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Uber Technologies by 3.2% during the 1st 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. Northern Trust Corp lifted its holdings in Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after purchasing an additional 720,122 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Uber Technologies by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after purchasing an additional 394,157 shares during the last quarter. Boston Partners increased its stake in Uber Technologies by 43.8% during the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock worth $658,686,000 after acquiring an additional 2,749,456 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after acquiring an additional 6,254,898 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday. Stifel Nicolaus lifted their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Susquehanna lifted their price target on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Stock Down 1.2%

UBER traded down $1.09 during midday trading on Friday, reaching $90.89. 20,364,649 shares of the company were exchanged, compared to its average volume of 14,781,707. The company has a market cap of $189.54 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. 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 company's fifty day moving average price is $92.42 and its 200 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.

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, beating the consensus estimate 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 the consensus estimate of $12.45 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Uber Technologies'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 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction that occurred 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 approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,696 shares of company stock valued at $4,632,774 over the last three months. Company insiders own 3.84% of the company's stock.

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.