Concentric Capital Strategies LP Sells 794,051 Shares of Uber Technologies, Inc. $UBER

Key Points

• Concentric Capital Strategies LP drastically reduced its holdings in Uber Technologies, decreasing their shares by 93.1% to 58,910 shares after selling 794,051 shares in the first quarter.
• In contrast, Pacer Advisors Inc. increased its stake in Uber by an astonishing 2,571.2%, now owning 6,498,167 shares valued at approximately $473.5 million.
• Uber's recent quarterly earnings showed a profit of $0.63 EPS, surpassing estimates and reflecting an 18.2% year-over-year revenue growth to $12.65 billion.

Concentric Capital Strategies LP lowered its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 93.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,910 shares of the ride-sharing company's stock after selling 794,051 shares during the period. Concentric Capital Strategies LP's holdings in Uber Technologies were worth $4,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBER. Bosun Asset Management LLC grew its position in shares of Uber Technologies by 26.9% during the 1st quarter. Bosun Asset Management LLC now owns 22,863 shares of the ride-sharing company's stock valued at $1,666,000 after purchasing an additional 4,849 shares in the last quarter. Banque Transatlantique SA raised its position in shares of Uber Technologies by 10,485.5% in the first quarter. Banque Transatlantique SA now owns 5,822 shares of the ride-sharing company's stock worth $392,000 after buying an additional 5,767 shares in the last quarter. AQR Capital Management LLC boosted its stake in Uber Technologies by 21.4% during the first quarter. AQR Capital Management LLC now owns 2,023,499 shares of the ride-sharing company's stock valued at $144,518,000 after buying an additional 357,345 shares during the period. Advisors Asset Management Inc. grew its position in Uber Technologies by 21.7% during the first quarter. Advisors Asset Management Inc. now owns 186,595 shares of the ride-sharing company's stock worth $13,595,000 after buying an additional 33,312 shares in the last quarter. Finally, Altimeter Capital Management LP grew its position in Uber Technologies by 1.4% during the first quarter. Altimeter Capital Management LP now owns 5,666,302 shares of the ride-sharing company's stock worth $412,847,000 after buying an additional 77,510 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 1.2%

NYSE:UBER traded down $1.09 during midday trading on Friday, reaching $90.89. 20,364,649 shares of the stock traded hands, compared to its average volume of 14,781,707. The stock has a market capitalization of $189.54 billion, a P/E ratio of 15.48, a PEG ratio of 1.05 and a beta of 1.43. 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 fifty day moving average of $92.42 and a 200 day moving average of $84.01. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on UBER. KeyCorp lifted their price target on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Barclays reissued an "overweight" rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Needham & Company LLC raised their price objective 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. DA Davidson lifted their price objective on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Roth Capital increased their target price on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 3,125 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 170,269 shares in the company, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the 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 completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Company 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.