Price T Rowe Associates Inc. MD Sells 7,994,330 Shares of Uber Technologies, Inc. $UBER

Key Points

• Price T Rowe Associates Inc. sold 7,994,330 shares of Uber Technologies, reducing its holdings by 62.3% and leaving it with 4,835,707 shares worth approximately $352 million.
• Investment firms like Vanguard Group and Boston Partners increased their stakes in Uber during the 1st quarter, with Boston Partners adding an impressive 43.8% to their holdings.
• Uber reported $12.65 billion in revenue for the latest quarter, surpassing expectations and representing an 18.2% increase from the previous year, with an earnings per share (EPS) of $0.63.

Price T Rowe Associates Inc. MD lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 62.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,835,707 shares of the ride-sharing company's stock after selling 7,994,330 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.23% of Uber Technologies worth $352,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake 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 valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the period. Northern Trust Corp raised its stake 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 valued at $1,401,873,000 after purchasing an additional 720,122 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 valued at $995,801,000 after purchasing an additional 394,157 shares during the period. Boston Partners grew its holdings 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 valued at $658,686,000 after buying an additional 2,749,456 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings 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 valued at $473,456,000 after buying an additional 6,254,898 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price target on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Sanford C. Bernstein raised their price target on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, July 21st. DA Davidson raised their price target on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Stifel Nicolaus raised their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Loop Capital restated a "buy" rating and set a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $102.82.

Insiders Place Their Bets

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction 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 owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $96.7020 on Friday. The stock has a 50 day moving average price of $91.08 and a 200-day moving average price of $82.93. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. 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 stock has a market cap of $201.66 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the previous year, the business earned $0.47 EPS. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. Equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.

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