Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 49.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,921 shares of the ride-sharing company's stock after selling 281,355 shares during the period. Kovitz Investment Group Partners LLC's holdings in Uber Technologies were worth $20,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UBER. Capital Research Global Investors raised its stake in Uber Technologies by 79.0% in the fourth 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 buying an additional 52,125,476 shares in the last quarter. Pacer Advisors Inc. raised its stake in Uber Technologies by 2,571.2% in the first 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. Vanguard Group Inc. raised its stake in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Toyota Motor Corp acquired a new stake in Uber Technologies in the fourth quarter valued at $309,192,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Uber Technologies in the fourth quarter valued at $298,644,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Trading Up 0.7%

Shares of Uber Technologies stock opened at $91.44 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The company has a market capitalization of $190.69 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.04 and a beta of 1.43. The business has a 50 day moving average price of $90.05 and a 200 day moving average price of $81.69.

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

Analysts Set New Price Targets

A number of analysts have weighed in on UBER shares. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Roth Capital raised their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Barclays reissued an "overweight" rating and set a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Citigroup raised their price target on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is owned by corporate insiders.

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.

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