Jennison Associates LLC Lowers Stake in Uber Technologies, Inc. (NYSE:UBER)

Jennison Associates LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,037,678 shares of the ride-sharing company's stock after selling 2,422,634 shares during the period. Uber Technologies accounts for about 1.2% of Jennison Associates LLC's investment portfolio, making the stock its 23rd biggest holding. Jennison Associates LLC owned approximately 1.15% of Uber Technologies worth $1,751,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of UBER. Independent Wealth Network Inc. purchased a new position in Uber Technologies in the 1st quarter worth $212,000. Markel Group Inc. grew its position in Uber Technologies by 11.9% during the 1st quarter. Markel Group Inc. now owns 122,000 shares of the ride-sharing company's stock worth $8,889,000 after purchasing an additional 13,000 shares during the period. Hardy Reed LLC grew its position in Uber Technologies by 0.9% during the 1st quarter. Hardy Reed LLC now owns 21,014 shares of the ride-sharing company's stock worth $1,531,000 after purchasing an additional 179 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in Uber Technologies by 2.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 352,810 shares of the ride-sharing company's stock worth $25,706,000 after purchasing an additional 7,180 shares during the period. Finally, Forum Financial Management LP grew its position in Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America raised their target price on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. KeyCorp raised their target price on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday. Stifel Nicolaus assumed coverage on Uber Technologies in a research report on Wednesday, June 11th. They set a "buy" rating and a $110.00 target price on the stock. Citigroup raised their target price on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC set a $109.00 target price on Uber Technologies and gave the company a "buy" rating in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $97.63.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,496,071 in the last 90 days. Company insiders own 3.84% of the company's stock.

Uber Technologies Trading Down 0.3%

UBER opened at $90.51 on Friday. The company has a market cap of $189.27 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average price of $89.06 and a two-hundred day moving average price of $78.37. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $97.72.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same period in the previous year, the firm earned ($0.32) EPS. The business's quarterly revenue was up 13.8% on a year-over-year basis. Analysts predict 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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