Alden Global Capital LLC Reduces Stock Holdings in Uber Technologies, Inc. $UBER

Alden Global Capital LLC lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 77.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,330 shares of the ride-sharing company’s stock after selling 78,729 shares during the period. Uber Technologies makes up 1.3% of Alden Global Capital LLC’s holdings, making the stock its 16th biggest position. Alden Global Capital LLC’s holdings in Uber Technologies were worth $2,083,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Connecticut Wealth Management LLC purchased a new position in shares of Uber Technologies during the 2nd quarter valued at about $230,000. Vienna Asset Management LLC acquired a new stake in Uber Technologies during the second quarter worth about $683,000. Strategic Wealth Investment Group LLC raised its position in Uber Technologies by 1.7% during the second quarter. Strategic Wealth Investment Group LLC now owns 16,638 shares of the ride-sharing company’s stock valued at $1,552,000 after acquiring an additional 276 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in Uber Technologies in the second quarter valued at approximately $2,199,000. Finally, California State Teachers Retirement System lifted its holdings in Uber Technologies by 0.5% in the second quarter. California State Teachers Retirement System now owns 3,048,888 shares of the ride-sharing company’s stock valued at $284,461,000 after acquiring an additional 16,187 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

NYSE:UBER opened at $85.13 on Friday. The stock has a 50 day moving average of $91.78 and a two-hundred day moving average of $91.76. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The firm has a market cap of $176.88 billion, a P/E ratio of 10.94 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

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

Insiders Place Their Bets

In other news, insider Tony West sold 3,125 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $92.10, for a total transaction of $287,812.50. Following the completion of the sale, the insider owned 174,135 shares of the company’s stock, valued at $16,037,833.50. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 267,625 shares of company stock valued at $26,774,660 in the last 90 days. 3.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays dropped their price objective on shares of Uber Technologies from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Uber Technologies in a report on Wednesday, November 5th. Citigroup reissued a “market perform” rating on shares of Uber Technologies in a research note on Wednesday. Cantor Fitzgerald raised their target price on Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company reduced their price target on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.60.

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.