Renaissance Group LLC Has $34.96 Million Holdings in Uber Technologies, Inc. $UBER

Renaissance Group LLC lessened its position in Uber Technologies, Inc. (NYSE:UBER) by 21.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 374,652 shares of the ride-sharing company’s stock after selling 100,965 shares during the quarter. Renaissance Group LLC’s holdings in Uber Technologies were worth $34,955,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UBER. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the 1st quarter valued at approximately $27,000. West Oak Capital LLC acquired a new position in shares of Uber Technologies during the second quarter worth approximately $28,000. Truvestments Capital LLC boosted its position in shares of Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after acquiring an additional 339 shares during the period. Trust Co. of Toledo NA OH bought a new position in Uber Technologies during the second quarter worth $30,000. Finally, Ransom Advisory Ltd acquired a new position in Uber Technologies during the 1st quarter valued at $31,000. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $109.00 target price on shares of Uber Technologies in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a report on Monday. Truist Financial raised their price objective on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, TD Cowen boosted their price objective on Uber Technologies from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.26.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. This trade represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the transaction, the chief financial officer owned 20,330 shares in the company, valued at approximately $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 602,000 shares of company stock worth $58,695,660 in the last quarter. 3.70% of the stock is owned by company insiders.

Uber Technologies Stock Down 1.3%

NYSE UBER opened at $90.92 on Wednesday. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $95.37 and its two-hundred day moving average is $91.94. The company has a market capitalization of $188.92 billion, a price-to-earnings ratio of 11.69 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter last year, the company earned $1.20 EPS. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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.