Fernbridge Capital Management LP Has $143.38 Million Position in Uber Technologies, Inc. (NYSE:UBER)

Fernbridge Capital Management LP lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 382.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,376,906 shares of the ride-sharing company’s stock after acquiring an additional 1,883,988 shares during the period. Uber Technologies makes up 7.5% of Fernbridge Capital Management LP’s holdings, making the stock its 5th largest holding. Fernbridge Capital Management LP’s holdings in Uber Technologies were worth $143,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avion Wealth raised its stake in shares of Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 218 shares during the period. Transce3nd LLC bought a new position in Uber Technologies during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Uber Technologies during the fourth quarter worth about $28,000. GHP Investment Advisors Inc. raised its position in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 223 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in Uber Technologies in the fourth quarter valued at about $35,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. KeyCorp decreased their price target on shares of Uber Technologies from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Citigroup decreased their target price on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Evercore ISI dropped their price target on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.81.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares in the company, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock valued at $5,793,869 over the last quarter. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Performance

NYSE UBER opened at $77.74 on Friday. The company has a market capitalization of $162.62 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a fifty day moving average of $73.60 and a 200-day moving average of $71.46.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.