Prudential PLC Trims Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Prudential PLC has reduced its holdings in Uber Technologies, Inc. by 8.3%, selling 16,989 shares and now owning a total of 187,496 shares valued at approximately $13.66 million as of its latest SEC filing.
• Institutional investors continue to increase their stakes in Uber, with several funds like Brighton Jones LLC and Revolve Wealth Partners LLC raising their holdings significantly during the fourth quarter.
• Uber reported a quarterly EPS of $0.63, exceeding analysts' expectations; the company experienced an 18.2% year-over-year revenue increase, totaling $12.65 billion for the quarter.

Prudential PLC cut its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,496 shares of the ride-sharing company's stock after selling 16,989 shares during the period. Prudential PLC's holdings in Uber Technologies were worth $13,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after buying an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Uber Technologies by 65.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in Uber Technologies during the fourth quarter worth about $395,000. Townsquare Capital LLC raised its holdings in Uber Technologies by 17.5% during the fourth quarter. Townsquare Capital LLC now owns 33,001 shares of the ride-sharing company's stock worth $1,991,000 after purchasing an additional 4,908 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new position in Uber Technologies during the fourth quarter worth about $433,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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. This trade represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.70% of the company's stock.

Uber Technologies Stock Up 1.3%

Shares of UBER opened at $91.76 on Wednesday. The firm has a market cap of $191.36 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.04 and a beta of 1.43. The company's fifty day moving average is $89.77 and its two-hundred day moving average is $81.47. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

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

Wall Street Analysts Forecast Growth

UBER has been the subject of several analyst reports. Wedbush cut their price target on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Citigroup increased their price target on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Susquehanna increased their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. UBS Group increased their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $106.00 target price (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $102.82.

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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