Uber Technologies, Inc. (NYSE:UBER) Stake Cut by Soma Equity Partners LP

Soma Equity Partners LP cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,815,288 shares of the ride-sharing company’s stock after selling 271,190 shares during the period. Uber Technologies accounts for approximately 6.1% of Soma Equity Partners LP’s portfolio, making the stock its 7th largest holding. Soma Equity Partners LP owned approximately 0.09% of Uber Technologies worth $109,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of Uber Technologies by 79.0% in the 4th 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 acquiring an additional 52,125,476 shares in the last quarter. Norges Bank purchased a new stake in Uber Technologies in the fourth quarter valued at approximately $1,467,754,000. Jennison Associates LLC lifted its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Boston Partners bought a new stake in Uber Technologies during the fourth quarter valued at approximately $381,057,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in Uber Technologies in the 4th quarter worth approximately $298,644,000. 80.24% of the stock is currently owned by institutional investors.

Insider Transactions 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 shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony West sold 23,404 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This trade represents a 17.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,788 shares of company stock valued at $9,028,690. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UBER. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research report on Thursday. Bank of America raised their price target on Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on Uber Technologies from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 price objective on shares of Uber Technologies in a research report on Monday, May 5th. Finally, Fox Advisors cut Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Eleven 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Stock Down 0.4%

Shares of Uber Technologies stock opened at $90.07 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $92.17. The company has a market cap of $188.35 billion, a P/E ratio of 19.75, a PEG ratio of 0.89 and a beta of 1.43. The company’s fifty day simple moving average is $75.91 and its two-hundred day simple moving average is $71.91.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company earned ($0.32) earnings per share. Uber Technologies’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.