Alkeon Capital Management LLC Lowers Stake in Uber Technologies, Inc. (NYSE:UBER)

Alkeon Capital Management LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,287,885 shares of the ride-sharing company’s stock after selling 2,822 shares during the quarter. Uber Technologies makes up about 0.6% of Alkeon Capital Management LLC’s portfolio, making the stock its 27th biggest position. Alkeon Capital Management LLC owned approximately 0.20% of Uber Technologies worth $322,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. boosted its stake in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares in the last quarter. WR Wealth Planners LLC increased its position in Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares in the last quarter. MCF Advisors LLC raised its stake in Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after buying an additional 405 shares during the last quarter. Founders Capital Management purchased a new stake in shares of Uber Technologies during the second quarter worth about $33,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Uber Technologies during the second quarter valued at about $36,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 0.1 %

Shares of UBER opened at $71.62 on Friday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The stock has a market cap of $150.81 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The firm’s fifty day moving average is $75.38 and its two-hundred day moving average is $71.20. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. Research analysts forecast that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on UBER shares. DA Davidson boosted their target price on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Daiwa America lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Citigroup increased their price objective on Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Tigress Financial lifted their target price on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a report on Monday. Finally, KeyCorp cut their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.84% of the stock is currently owned by company insiders.

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.