Lyrical Asset Management LP Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Lyrical Asset Management LP reduced its stake in Uber Technologies by 1.9%, now holding 3,047,128 shares, which accounts for about 3.4% of its total portfolio.
• Despite the reduction by Lyrical Asset Management, other hedge funds have recently increased their holdings in Uber, reflecting a mixed sentiment among institutional investors.
• Uber reported a quarterly earnings per share of $0.63, exceeding analyst expectations, with revenue reaching $12.65 billion, an 18.2% increase from the previous year.

Lyrical Asset Management LP reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,047,128 shares of the ride-sharing company's stock after selling 59,768 shares during the period. Uber Technologies accounts for about 3.4% of Lyrical Asset Management LP's holdings, making the stock its 15th biggest position. Lyrical Asset Management LP owned 0.15% of Uber Technologies worth $222,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Navalign LLC grew its position in shares of Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after acquiring an additional 126 shares during the last quarter. Grove Bank & Trust grew its position in shares of Uber Technologies by 0.9% during the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after acquiring an additional 133 shares during the last quarter. Forum Financial Management LP grew its position in shares of Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after acquiring an additional 136 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Uber Technologies by 42.1% during the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after acquiring an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC grew its position in shares of Uber Technologies by 3.6% during the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after acquiring an additional 145 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 0.8%

Uber Technologies stock opened at $90.97 on Thursday. The stock has a market cap of $189.71 billion, a PE ratio of 15.50, a P/E/G ratio of 1.05 and a beta of 1.43. The stock has a 50-day moving average price of $89.92 and a 200 day moving average price of $81.54. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week 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 posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The firm's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. Equities research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UBER shares. Roth Capital raised their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Royal Bank Of Canada lifted their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their price objective 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. Finally, Wall Street Zen lowered shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.84% of the company's stock.

About Uber Technologies

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.