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

Alkeon Capital Management LLC cut its position in Uber Technologies, Inc. (NYSE:UBER) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,961,005 shares of the ride-sharing company’s stock after selling 500,000 shares during the period. Alkeon Capital Management LLC owned 0.14% of Uber Technologies worth $276,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in UBER. Brant Point Investment Management LLC acquired a new stake in Uber Technologies in the 2nd quarter valued at about $933,000. Prudential PLC lifted its position in Uber Technologies by 15.7% during the second quarter. Prudential PLC now owns 216,855 shares of the ride-sharing company’s stock worth $20,233,000 after buying an additional 29,359 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in Uber Technologies by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 2,082,067 shares of the ride-sharing company’s stock worth $194,257,000 after buying an additional 35,418 shares during the last quarter. M&T Bank Corp boosted its stake in Uber Technologies by 13.9% during the second quarter. M&T Bank Corp now owns 426,163 shares of the ride-sharing company’s stock worth $39,761,000 after buying an additional 52,002 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $96,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UBER has been the subject of a number of analyst reports. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. Piper Sandler set a $107.00 price target on shares of Uber Technologies in a research report on Wednesday, November 5th. Citigroup reissued a “market perform” rating on shares of Uber Technologies in a research note on Wednesday. Royal Bank Of Canada set a $110.00 price objective on Uber Technologies in a research report on Wednesday, November 5th. Finally, Sanford C. Bernstein boosted their price objective on shares of Uber Technologies from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.60.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies 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 transaction, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. The trade was a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 267,625 shares of company stock worth $26,774,660 in the last quarter. 3.84% of the stock is owned by company insiders.

Uber Technologies Stock Down 0.4%

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

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