Rovida Investment Management Ltd Sells 75,000 Shares of Uber Technologies, Inc. $UBER

Rovida Investment Management Ltd lowered its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 50.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 75,000 shares of the ride-sharing company’s stock after selling 75,000 shares during the quarter. Uber Technologies makes up approximately 1.3% of Rovida Investment Management Ltd’s investment portfolio, making the stock its 13th largest position. Rovida Investment Management Ltd’s holdings in Uber Technologies were worth $6,994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the 1st quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC increased its stake 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 purchasing an additional 19,967,705 shares in the last quarter. Northern Trust Corp raised its holdings in Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after purchasing an additional 720,122 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock valued at $995,801,000 after purchasing an additional 394,157 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. Truist Financial raised their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Stifel Nicolaus set a $122.00 price target on shares of Uber Technologies in a report on Tuesday, November 4th. Morgan Stanley reissued an “overweight” rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.26.

Insider Buying and Selling

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 604,946 shares of company stock valued at $58,950,116 over the last 90 days. 3.70% of the stock is currently owned by insiders.

Uber Technologies Price Performance

UBER stock opened at $93.59 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The company’s fifty day moving average price is $95.48 and its 200-day moving average price is $91.55. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The company has a market capitalization of $194.47 billion, a PE ratio of 12.03 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. On average, equities analysts anticipate 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.