Graham Capital Management L.P. Trims Holdings in Uber Technologies, Inc. (NYSE:UBER)

Graham Capital Management L.P. reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,351 shares of the ride-sharing company’s stock after selling 1,098 shares during the quarter. Graham Capital Management L.P.’s holdings in Uber Technologies were worth $5,872,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Norges Bank purchased a new stake in shares of Uber Technologies in the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC boosted its stake in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners purchased a new position in Uber Technologies during the fourth quarter valued at approximately $381,057,000. Finally, Assenagon Asset Management S.A. raised its stake in Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after buying an additional 5,753,637 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Up 0.4 %

Shares of Uber Technologies stock opened at $82.60 on Friday. The firm has a 50-day simple moving average of $74.72 and a two-hundred day simple moving average of $71.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a market cap of $172.73 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Uber Technologies’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) earnings per share. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on UBER shares. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, April 16th. The Goldman Sachs Group boosted their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Uber Technologies from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $92.69.

Insider Activity

In related news, insider Tony West sold 23,404 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,904 shares of company stock worth $6,027,619 in the last quarter. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies 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.