Tandem Capital Management Corp ADV lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 2.2% during the first quarter, Holdings Channel.com reports. The firm owned 44,439 shares of the ride-sharing company’s stock after selling 1,020 shares during the quarter. Uber Technologies makes up 1.8% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 19th biggest holding. Tandem Capital Management Corp ADV’s holdings in Uber Technologies were worth $3,238,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings 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 during the period. Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at $1,467,754,000. Boston Partners acquired a new position in Uber Technologies in the fourth quarter valued at $381,057,000. Toyota Motor Corp acquired a new position in Uber Technologies in the fourth quarter valued at $309,192,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Uber Technologies in the fourth quarter valued at $298,644,000. Institutional investors and hedge funds own 80.24% of the company’s stock.
Insider Transactions at Uber Technologies
In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now directly owns 102,135 shares of the company’s stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by insiders.
Uber Technologies Trading Up 0.3%
Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) earnings per share. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on UBER. Truist Financial boosted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research note on Thursday, May 15th. Eleven investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.39.
View Our Latest Research Report on UBER
About Uber Technologies
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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