Draper Asset Management LLC Decreases Holdings in Uber Technologies, Inc. $UBER

Draper Asset Management LLC reduced its holdings in Uber Technologies, Inc. (NYSE:UBER) by 20.0% during the second quarter, Holdings Channel.com reports. The fund owned 71,897 shares of the ride-sharing company’s stock after selling 18,021 shares during the quarter. Uber Technologies accounts for 4.3% of Draper Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Draper Asset Management LLC’s holdings in Uber Technologies were worth $6,581,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UBER. Pershing Square Capital Management L.P. bought a new position in Uber Technologies in the 1st quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC increased its position 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 during the last quarter. Pacer Advisors Inc. increased its position 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 during the last quarter. Vanguard Group Inc. increased its position 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 during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Uber Technologies by 105.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock valued at $506,618,000 after purchasing an additional 2,807,967 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UBER. Royal Bank Of Canada increased their price objective on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. UBS Group increased their price objective on Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Finally, Bank of America increased their target price on Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.70.

Uber Technologies Price Performance

Shares of UBER stock opened at $94.57 on Friday. The firm has a market cap of $197.21 billion, a P/E ratio of 16.11 and a beta of 1.48. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The business’s 50 day moving average price is $95.40 and its 200-day moving average price is $89.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 3,125 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $93.00, for a total value of $290,625.00. Following the completion of the transaction, the insider owned 172,846 shares in the company, valued at $16,074,678. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 604,946 shares of company stock worth $58,950,116. Corporate insiders own 3.84% of the company’s stock.

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.