BloombergSen Inc. Cuts Stock Holdings in Uber Technologies, Inc. $UBER

BloombergSen Inc. trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,639 shares of the ride-sharing company’s stock after selling 2,618 shares during the quarter. Uber Technologies makes up about 0.1% of BloombergSen Inc.’s portfolio, making the stock its 26th biggest holding. BloombergSen Inc.’s holdings in Uber Technologies were worth $1,739,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UBER. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies during the 1st quarter valued at approximately $2,207,743,000. Kingstone Capital Partners Texas LLC increased its holdings in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Finally, Boston Partners grew its stake in Uber Technologies by 43.8% in the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company’s stock valued at $658,686,000 after acquiring an additional 2,749,456 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,571 shares of company stock worth $58,920,741. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Trading Down 1.2%

Shares of UBER opened at $96.75 on Thursday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $93.72 and its two-hundred day moving average is $86.71. The stock has a market cap of $201.76 billion, a PE ratio of 16.48 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last announced 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 company had revenue of $12.65 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UBER. Cantor Fitzgerald reissued an “overweight” rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Wall Street Zen cut shares of Uber Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. BMO Capital Markets lifted their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Finally, Piper Sandler lifted their price target on shares of Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $104.09.

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.