Jennison Associates LLC Sells 6,311,209 Shares of Uber Technologies, Inc. $UBER

Jennison Associates LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 26.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,726,469 shares of the ride-sharing company’s stock after selling 6,311,209 shares during the period. Uber Technologies comprises approximately 1.0% of Jennison Associates LLC’s portfolio, making the stock its 29th largest holding. Jennison Associates LLC’s holdings in Uber Technologies were worth $1,653,880,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vision Financial Markets LLC bought a new stake in Uber Technologies in the first quarter worth $27,000. West Oak Capital LLC bought a new stake in Uber Technologies in the second quarter worth $28,000. Truvestments Capital LLC lifted its stake in Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 339 shares during the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Uber Technologies during the second quarter valued at about $30,000. Finally, Ransom Advisory Ltd bought a new position in shares of Uber Technologies during the first quarter valued at about $31,000. 80.24% of the stock is owned by institutional investors.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on 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 directly owned 22,528 shares of the company’s stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 604,946 shares of company stock valued at $58,950,116. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on UBER shares. Barclays reaffirmed an “overweight” rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. UBS Group upped their price objective on shares of Uber Technologies from $117.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim raised shares of Uber Technologies to a “strong-buy” rating in a research note on Wednesday, October 15th. Finally, Needham & Company LLC upped their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Uber Technologies Stock Down 0.9%

Shares of Uber Technologies stock opened at $95.55 on Wednesday. The company has a market cap of $199.27 billion, a price-to-earnings ratio of 16.28 and a beta of 1.48. The company’s 50 day moving average is $95.48 and its 200 day moving average is $90.01. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

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, beating analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.