TD Asset Management Inc Trims Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• TD Asset Management Inc. reduced its stake in Uber Technologies, Inc. by 7.8%, owning 1,505,913 shares after selling 127,873 shares during the first quarter.
• Several analysts have increased their target prices for Uber Technologies, with the consensus target now at $100.26 and a general rating of "Moderate Buy" from twenty-nine analysts.
• Uber recently posted earnings of $0.83 EPS, exceeding the consensus estimate of $0.50, with revenue of $11.53 billion for the quarter.

TD Asset Management Inc reduced its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,505,913 shares of the ride-sharing company's stock after selling 127,873 shares during the quarter. TD Asset Management Inc owned 0.07% of Uber Technologies worth $109,721,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Uber Technologies by 2,571.2% in 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 purchasing an additional 6,254,898 shares during the last quarter. Toyota Motor Corp purchased a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $309,192,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $298,644,000. Finally, Capital World Investors increased its position in shares of Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Price Performance

UBER stock traded up $0.29 during trading on Wednesday, reaching $87.40. 6,238,368 shares of the company were exchanged, compared to its average volume of 22,243,371. The company has a market cap of $182.76 billion, a P/E ratio of 15.28, a PEG ratio of 1.04 and a beta of 1.40. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $97.71. The stock's 50 day moving average price is $89.16 and its 200 day moving average price is $79.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm's revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. As a group, analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider owned 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 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. In the last three months, insiders have sold 40,384 shares of company stock worth $3,496,071. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on UBER shares. Barclays increased their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Citigroup increased their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC increased their target price 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. Finally, Bank of America increased their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $100.71.

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.