Tremblant Capital Group Reduces Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Tremblant Capital Group cut its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 548,183 shares of the ride-sharing company's stock after selling 15,931 shares during the period. Uber Technologies accounts for approximately 3.4% of Tremblant Capital Group's portfolio, making the stock its 10th biggest holding. Tremblant Capital Group's holdings in Uber Technologies were worth $33,066,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Polianta Ltd bought a new position in Uber Technologies during the fourth quarter valued at about $1,206,000. Allworth Financial LP increased its stake in Uber Technologies by 8.9% during the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company's stock valued at $1,229,000 after acquiring an additional 1,663 shares during the period. Lecap Asset Management Ltd. bought a new position in Uber Technologies during the fourth quarter valued at about $3,188,000. Clark Capital Management Group Inc. increased its stake in Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after acquiring an additional 399,008 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its stake in Uber Technologies by 1,705.2% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company's stock valued at $3,414,000 after acquiring an additional 53,457 shares during the period. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Stock Up 1.8%

Shares of UBER opened at $91.80 on Monday. The business's 50 day simple moving average is $76.33 and its 200-day simple moving average is $71.94. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $92.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market capitalization of $191.96 billion, a P/E ratio of 20.13, a PEG ratio of 0.89 and a beta of 1.43.

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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the business earned ($0.32) EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on UBER shares. Piper Sandler restated an "overweight" rating and set a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Fox Advisors lowered Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Arete Research upgraded Uber Technologies to a "hold" rating in a research note on Tuesday, February 18th. Evercore ISI lowered their price target on Uber Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Finally, Wedbush downgraded Uber Technologies from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $92.69.

Insiders Place Their Bets

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 20,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the transaction, the senior vice president now owns 361,908 shares of the company's stock, valued at approximately $25,901,755.56. This represents a 5.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares in the company, valued at approximately $7,046,552.46. This represents a 26.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,788 shares of company stock valued at $9,028,690. 3.84% of the stock is currently owned by corporate insiders.

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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