BloombergSen Inc. Lowers Stake in Uber Technologies, Inc. $UBER

BloombergSen Inc. lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,639 shares of the ride-sharing company’s stock after selling 2,618 shares during the period. Uber Technologies accounts for about 0.1% of BloombergSen Inc.’s investment portfolio, making the stock its 26th biggest holding. BloombergSen Inc.’s holdings in Uber Technologies were worth $1,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of UBER. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies in the 1st quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC grew its position in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Uber Technologies by 2,571.2% in the 1st 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. grew its position in shares of Uber Technologies by 3.2% in the 1st 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. Finally, Boston Partners grew its position in shares of Uber Technologies by 43.8% in the 1st 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. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

UBER opened at $96.75 on Thursday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $201.76 billion, a PE ratio of 16.48 and a beta of 1.48. The firm has a 50 day moving average of $93.72 and a two-hundred day moving average of $86.71.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the firm posted $0.47 EPS. Uber Technologies’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UBER. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. Raymond James Financial lifted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 7th. Susquehanna lifted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Bank of America increased their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.09.

Insider Activity at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tony West sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 604,571 shares of company stock worth $58,920,741 in the last ninety days. 3.84% of the stock is owned by company insiders.

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.