Maverick Capital Ltd. Decreases Holdings in Uber Technologies, Inc. $UBER

Maverick Capital Ltd. lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 82.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,522 shares of the ride-sharing company’s stock after selling 35,396 shares during the quarter. Maverick Capital Ltd.’s holdings in Uber Technologies were worth $548,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in UBER. Pacer Advisors Inc. increased its holdings in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after buying an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. increased its holdings in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the last quarter. Toyota Motor Corp purchased a new stake in Uber Technologies during the fourth quarter worth about $309,192,000. Boston Partners increased its holdings in Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company’s stock worth $658,686,000 after buying an additional 2,749,456 shares during the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in Uber Technologies during the first quarter worth about $167,532,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider directly owned 170,269 shares in the company, valued at $16,175,555. This represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This represents 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 have sold 48,696 shares of company stock valued at $4,632,774. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. KeyCorp lifted their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Raymond James Financial lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $84.00 target price (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $102.82.

Uber Technologies Stock Performance

NYSE UBER opened at $93.80 on Tuesday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $195.61 billion, a PE ratio of 15.98, a P/E/G ratio of 1.08 and a beta of 1.43. The company’s 50 day simple moving average is $92.39 and its two-hundred day simple moving average is $83.73.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.