Intech Investment Management LLC Sells 17,288 Shares of Uber Technologies, Inc. $UBER

Key Points

• Intech Investment Management LLC reduced its stake in Uber Technologies by 18.8%, selling 17,288 shares during the first quarter, leaving them with 74,547 shares valued at approximately $5.43 million.
• Several institutional investors, including Vanguard Group and Boston Partners, increased their holdings in Uber Technologies, with Boston Partners raising its stake by 43.8%.
• Uber reported a quarterly EPS of $0.63, exceeding expectations, alongside a revenue of $12.65 billion, indicating an 18.2% year-over-year growth.

Intech Investment Management LLC decreased its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,547 shares of the ride-sharing company's stock after selling 17,288 shares during the period. Intech Investment Management LLC's holdings in Uber Technologies were worth $5,431,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies in the first quarter worth about $2,207,743,000. Northern Trust Corp raised its position in shares of Uber Technologies by 3.9% in the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after purchasing an additional 720,122 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Uber Technologies by 3.0% in the first 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 purchasing an additional 394,157 shares during the period. Finally, Boston Partners raised its position in shares of Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after purchasing an additional 2,749,456 shares during the period. Institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $94.72 on Friday. The company has a 50 day moving average of $92.57 and a 200 day moving average of $84.43. The stock has a market cap of $197.53 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.08 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, 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 transaction, the insider owned 86,531 shares of the company's stock, valued at $8,343,319.02. The trade was a 26.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,696 shares of company stock worth $4,632,774 in the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. BMO Capital Markets boosted their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC boosted their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, July 14th. One 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.

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