Jericho Capital Asset Management L.P. Acquires Shares of 4,951,000 Uber Technologies, Inc. (NYSE:UBER)

Jericho Capital Asset Management L.P. bought a new position in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,951,000 shares of the ride-sharing company's stock, valued at approximately $298,644,000. Uber Technologies accounts for 4.3% of Jericho Capital Asset Management L.P.'s investment portfolio, making the stock its 11th largest holding. Jericho Capital Asset Management L.P. owned about 0.24% of Uber Technologies at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Invst LLC increased its stake in Uber Technologies by 5.0% in the 3rd quarter. Invst LLC now owns 4,108 shares of the ride-sharing company's stock valued at $309,000 after buying an additional 197 shares during the last quarter. Advisory Resource Group increased its stake in Uber Technologies by 1.6% in the 3rd quarter. Advisory Resource Group now owns 13,993 shares of the ride-sharing company's stock valued at $1,052,000 after buying an additional 222 shares during the last quarter. Virtu Financial LLC acquired a new stake in Uber Technologies in the 3rd quarter valued at $1,328,000. SkyView Investment Advisors LLC grew its position in shares of Uber Technologies by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 30,280 shares of the ride-sharing company's stock valued at $2,276,000 after acquiring an additional 875 shares during the period. Finally, Anchor Investment Management LLC grew its position in shares of Uber Technologies by 8.9% in the 3rd quarter. Anchor Investment Management LLC now owns 33,718 shares of the ride-sharing company's stock valued at $2,534,000 after acquiring an additional 2,755 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UBER shares. JPMorgan Chase & Co. decreased their price objective on shares of Uber Technologies from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a report on Thursday, February 6th. Benchmark restated a "hold" rating on shares of Uber Technologies in a research note on Friday, January 31st. Finally, Needham & Company LLC restated a "buy" rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.81.

Uber Technologies Trading Up 2.1 %

UBER traded up $1.65 during midday trading on Wednesday, hitting $81.07. 17,724,481 shares of the company were exchanged, compared to its average volume of 20,252,842. The firm's 50 day moving average price is $73.51 and its 200-day moving average price is $71.41. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $169.58 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now directly owns 86,973 shares of the company's stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock valued at $5,793,869 in the last three months. Corporate insiders own 3.70% of the company's stock.

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.