Machina Capital S.A.S. lowered its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,718 shares of the ride-sharing company’s stock after selling 3,382 shares during the period. Machina Capital S.A.S.’s holdings in Uber Technologies were worth $181,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Uber Technologies during the fourth quarter valued at about $580,568,000. Altimeter Capital Management LP grew its position in Uber Technologies by 167.5% during the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after acquiring an additional 19,260,000 shares during the period. Point72 Asset Management L.P. grew its position in Uber Technologies by 6,754.1% during the fourth quarter. Point72 Asset Management L.P. now owns 9,808,165 shares of the ride-sharing company’s stock valued at $242,556,000 after acquiring an additional 9,955,565 shares during the period. Steadfast Capital Management LP purchased a new stake in Uber Technologies during the fourth quarter valued at about $178,126,000. Finally, Scge Management L.P. acquired a new position in shares of Uber Technologies during the fourth quarter worth about $155,008,000. Hedge funds and other institutional investors own 73.90% of the company’s stock.
Insiders Place Their Bets
In other news, CEO Dara Khosrowshahi sold 69,975 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $3,148,875.00. Following the completion of the sale, the chief executive officer now owns 1,416,243 shares in the company, valued at approximately $63,730,935. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Dara Khosrowshahi sold 69,975 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $3,148,875.00. Following the completion of the sale, the chief executive officer now owns 1,416,243 shares in the company, valued at $63,730,935. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 644 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $26,404.00. Following the completion of the transaction, the insider now directly owns 128,916 shares in the company, valued at $5,285,556. The disclosure for this sale can be found here. Insiders sold 138,143 shares of company stock worth $6,047,399 over the last ninety days. Company insiders own 3.84% of the company’s stock.
Uber Technologies Stock Performance
Uber Technologies (NYSE:UBER – Free Report) last released its earnings results on Tuesday, May 2nd. The ride-sharing company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $8.82 billion during the quarter, compared to the consensus estimate of $8.71 billion. Uber Technologies had a negative return on equity of 43.94% and a negative net margin of 9.95%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) earnings per share. Research analysts predict that Uber Technologies, Inc. will post 0.05 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on UBER shares. Loop Capital boosted their price objective on Uber Technologies from $42.00 to $48.00 in a research note on Friday, June 9th. Susquehanna upgraded Uber Technologies from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $40.00 to $48.00 in a research note on Wednesday, May 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Uber Technologies in a research note on Tuesday, March 28th. Needham & Company LLC boosted their price target on Uber Technologies from $54.00 to $56.00 in a research note on Wednesday, May 3rd. Finally, Piper Sandler boosted their price target on Uber Technologies from $41.00 to $43.00 in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.44.
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.
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