Fred Alger Management LLC Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Fred Alger Management LLC decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 32.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 530,018 shares of the ride-sharing company’s stock after selling 253,973 shares during the period. Fred Alger Management LLC’s holdings in Uber Technologies were worth $39,836,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. boosted its position in shares of Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 245 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares during the period. MCF Advisors LLC lifted its holdings in Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 405 shares during the period. Founders Capital Management bought a new stake in Uber Technologies during the second quarter worth $33,000. Finally, Fairfield Financial Advisors LTD bought a new stake in Uber Technologies during the second quarter worth $36,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Uber Technologies stock opened at $71.62 on Friday. The business has a 50-day simple moving average of $75.38 and a 200 day simple moving average of $71.20. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market cap of $150.81 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.34.

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

Analyst Ratings Changes

UBER has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Thursday, October 31st. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Thursday, October 31st. Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research note on Thursday, October 17th. Finally, Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.51.

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.