Uber Technologies, Inc. $UBER Shares Sold by Edgewood Management LLC

by · The Cerbat Gem

Edgewood Management LLC lowered its stake in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 85.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,804 shares of the ride-sharing company’s stock after selling 40,918 shares during the quarter. Edgewood Management LLC’s holdings in Uber Technologies were worth $635,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp raised its stake in Uber Technologies by 126.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,210,277 shares of the ride-sharing company’s stock valued at $112,919,000 after purchasing an additional 675,002 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Uber Technologies by 11.6% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 434,482 shares of the ride-sharing company’s stock worth $40,485,000 after purchasing an additional 45,192 shares during the last quarter. Virtus Investment Advisers LLC purchased a new stake in shares of Uber Technologies during the second quarter worth about $1,663,000. Colonial Trust Advisors raised its position in shares of Uber Technologies by 83.1% in the second quarter. Colonial Trust Advisors now owns 29,999 shares of the ride-sharing company’s stock valued at $2,799,000 after buying an additional 13,612 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Uber Technologies during the second quarter valued at approximately $2,348,319,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets lowered their target price on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Tuesday, October 28th. Truist Financial increased their target price on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 price target on Uber Technologies in a report on Wednesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $109.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.26.

View Our Latest Report on Uber Technologies

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $92.10, for a total transaction of $287,812.50. Following the transaction, the insider owned 174,135 shares in the company, valued at $16,037,833.50. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 567,625 shares of company stock worth $55,385,660 over the last ninety days. 3.84% of the stock is owned by company insiders.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $87.58 on Friday. The business has a 50-day moving average of $93.68 and a two-hundred day moving average of $91.88. The firm has a market capitalization of $181.98 billion, a PE ratio of 11.26 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

About Uber Technologies

(Free Report)

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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