Uber Technologies, Inc. $UBER Shares Sold by Alkeon Capital Management LLC

Alkeon Capital Management LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,961,005 shares of the ride-sharing company’s stock after selling 500,000 shares during the quarter. Alkeon Capital Management LLC’s holdings in Uber Technologies were worth $276,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of UBER. Kilter Group LLC purchased a new stake in Uber Technologies in the second quarter valued at $26,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $28,000. Truvestments Capital LLC boosted its position in shares of Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 339 shares during the period. Trust Co. of Toledo NA OH purchased a new position in Uber Technologies during the 2nd quarter worth approximately $30,000. Finally, Ransom Advisory Ltd acquired a new position in Uber Technologies during the first quarter worth approximately $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Uber Technologies in a report on Wednesday, November 5th. Guggenheim lowered their price target on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Piper Sandler set a $107.00 price target on Uber Technologies in a research report on Wednesday, November 5th. Truist Financial upped their price objective on Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, UBS Group set a $122.00 target price on Uber Technologies and gave the company a “buy” rating in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Uber Technologies Stock Down 0.4%

Uber Technologies stock opened at $85.13 on Friday. The stock’s 50 day moving average price is $91.78 and its 200 day moving average price is $91.76. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a market cap of $176.88 billion, a PE ratio of 10.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares in the company, valued at $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tony West sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 267,625 shares of company stock worth $26,774,660 in the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

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.