Primecap Management Co. CA Decreases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Primecap Management Co. CA cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,304,200 shares of the ride-sharing company’s stock after selling 12,250 shares during the period. Primecap Management Co. CA owned about 0.06% of Uber Technologies worth $94,789,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UBER. Precision Wealth Strategies LLC purchased a new stake in Uber Technologies during the 4th quarter valued at $444,000. 9258 Wealth Management LLC raised its stake in Uber Technologies by 52.6% during the 4th quarter. 9258 Wealth Management LLC now owns 12,138 shares of the ride-sharing company’s stock valued at $747,000 after buying an additional 4,185 shares during the last quarter. Rollins Financial purchased a new stake in Uber Technologies during the 4th quarter valued at $265,000. Kingsview Wealth Management LLC raised its stake in Uber Technologies by 25.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 12,104 shares of the ride-sharing company’s stock valued at $745,000 after buying an additional 2,460 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Uber Technologies during the 4th quarter valued at $772,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Up 1.8 %

Shares of NYSE UBER opened at $72.78 on Wednesday. The firm’s 50-day moving average price is $69.45 and its 200-day moving average price is $70.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $152.08 billion, a price-to-earnings ratio of 117.39, a P/E/G ratio of 1.21 and a beta of 1.33. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on UBER shares. Loop Capital boosted their target price on shares of Uber Technologies from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Citigroup boosted their price objective on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler boosted their price objective on shares of Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $87.60.

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.