Uber Technologies, Inc. (NYSE:UBER) Stock Position Cut by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,000,000 shares of the ride-sharing company’s stock after selling 500,000 shares during the period. Uber Technologies accounts for approximately 5.3% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 3rd largest holding. Southpoint Capital Advisors LP owned about 0.14% of Uber Technologies worth $225,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after acquiring an additional 3,179,308 shares during the last quarter. Edgewood Management LLC boosted its position in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the last quarter. AMF Tjanstepension AB purchased a new stake in Uber Technologies in the third quarter valued at approximately $163,468,000. Samlyn Capital LLC purchased a new stake in Uber Technologies in the second quarter valued at approximately $134,987,000. Finally, Ensign Peak Advisors Inc boosted its position in Uber Technologies by 64.9% in the second quarter. Ensign Peak Advisors Inc now owns 4,633,697 shares of the ride-sharing company’s stock valued at $336,777,000 after buying an additional 1,824,162 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Up 0.6 %

NYSE UBER opened at $72.02 on Friday. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00. The firm has a 50 day moving average of $75.34 and a two-hundred day moving average of $71.24. The stock has a market capitalization of $151.65 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the firm earned $0.10 earnings per share. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This trade represents a 23.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on UBER shares. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. UBS Group boosted their price target on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada boosted their price target on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Roth Mkm upped their target price on Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, DA Davidson upped their target price on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.51.

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.