Fred Alger Management LLC Trims Stock Position in Uber Technologies, Inc. $UBER

Fred Alger Management LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 50.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,148 shares of the ride-sharing company's stock after selling 71,524 shares during the period. Fred Alger Management LLC's holdings in Uber Technologies were worth $5,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in UBER. First Dallas Securities Inc. lifted its holdings in shares of Uber Technologies by 8.4% in the 1st quarter. First Dallas Securities Inc. now owns 86,397 shares of the ride-sharing company's stock valued at $6,295,000 after buying an additional 6,697 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in Uber Technologies by 26.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 64,435 shares of the ride-sharing company's stock worth $4,695,000 after acquiring an additional 13,519 shares during the period. Guardian Partners Inc. purchased a new position in Uber Technologies during the first quarter valued at approximately $1,453,000. Tenzing Global Management LLC raised its position in Uber Technologies by 104.5% during the first quarter. Tenzing Global Management LLC now owns 112,500 shares of the ride-sharing company's stock valued at $8,197,000 after acquiring an additional 57,500 shares in the last quarter. Finally, Theleme Partners LLP lifted its holdings in Uber Technologies by 22.0% in the first quarter. Theleme Partners LLP now owns 1,529,750 shares of the ride-sharing company's stock valued at $111,458,000 after acquiring an additional 276,000 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the firm'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 transaction, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,696 shares of company stock valued at $4,632,774 in the last 90 days. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wedbush dropped their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group restated a "hold" rating and set a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Loop Capital reaffirmed a "buy" rating and issued a $105.00 price objective (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Raymond James Financial raised their target price on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Trading Up 1.1%

Shares of Uber Technologies stock opened at $95.40 on Wednesday. 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, Inc. has a twelve month low of $59.33 and a twelve month high of $97.71. The firm has a market capitalization of $198.95 billion, a PE ratio of 16.25, a P/E/G ratio of 1.08 and a beta of 1.43. The firm's 50-day moving average price is $92.50 and its 200 day moving average price is $84.24.

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, topping the consensus estimate of $0.61 by $0.02. The company 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%.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 earned $0.47 EPS. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.