Highland Capital Management LLC Reduces Holdings in Uber Technologies, Inc. (NYSE:UBER)

Highland Capital Management LLC trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,407 shares of the ride-sharing company's stock after selling 15,431 shares during the period. Uber Technologies makes up approximately 0.7% of Highland Capital Management LLC's holdings, making the stock its 29th biggest holding. Highland Capital Management LLC's holdings in Uber Technologies were worth $12,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Uber Technologies during the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies during the 4th quarter valued at $27,000. Kozak & Associates Inc. raised its holdings in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the 1st quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Uber Technologies in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded down $1.58 on Friday, reaching $91.54. The company's stock had a trading volume of 24,681,770 shares, compared to its average volume of 21,097,012. The company has a market capitalization of $191.43 billion, a P/E ratio of 16.03, a PEG ratio of 1.18 and a beta of 1.38. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $94.38. The stock has a 50-day moving average price of $85.16 and a 200-day moving average price of $75.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

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

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at approximately $1,790,355. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the sale, the insider now owns 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.84% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on UBER. JPMorgan Chase & Co. upped their price objective on Uber Technologies from $92.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Wedbush downgraded Uber Technologies from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $80.00 to $85.00 in a research report on Thursday, May 8th. KeyCorp upped their price objective on Uber Technologies from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $82.00 price objective on shares of Uber Technologies in a research report on Monday, May 5th. Finally, Stifel Nicolaus began coverage on Uber Technologies in a research report on Wednesday, June 11th. They issued a "buy" rating and a $110.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $94.85.

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.