Uber Technologies, Inc. $UBER Shares Sold by Alden Global Capital LLC

Key Points

• Alden Global Capital LLC has reduced its stake in Uber Technologies by 22.4%, currently holding approximately 101,059 shares valued at $7.36 million.
• Several hedge funds have increased their investments in Uber, with Pacer Advisors raising their holdings by 2,571.2% and Boston Partners increasing theirs by 43.8%.
• Analyst ratings are generally positive for Uber, with 29 analysts issuing a Buy rating and target prices from $100 to $110 among various firms.

Alden Global Capital LLC lessened its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,059 shares of the ride-sharing company's stock after selling 29,133 shares during the quarter. Uber Technologies accounts for about 7.9% of Alden Global Capital LLC's holdings, making the stock its 6th biggest position. Alden Global Capital LLC's holdings in Uber Technologies were worth $7,363,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Navalign LLC boosted its stake in shares of Uber Technologies by 0.5% during the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after acquiring an additional 126 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after acquiring an additional 133 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after acquiring an additional 136 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Uber Technologies by 42.1% in the first quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock valued at $34,000 after purchasing an additional 138 shares during the last quarter. Finally, Amplius Wealth Advisors LLC grew its holdings in Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on UBER shares. Royal Bank Of Canada upped their target price on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Piper Sandler upped their target price on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus upped their target price on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Price Performance

UBER stock traded down $1.09 on Friday, reaching $90.89. The company had a trading volume of 20,364,649 shares, compared to its average volume of 14,781,707. The company's fifty day moving average is $92.42 and its 200 day moving average is $84.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $189.54 billion, a P/E ratio of 15.48, a PEG ratio of 1.05 and a beta of 1.43. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating 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 company 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. Uber Technologies's revenue was up 18.2% on a year-over-year basis. On average, research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider owned 170,269 shares of the company's stock, valued at approximately $16,175,555. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,696 shares of company stock valued at $4,632,774. 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.