Jericho Capital Asset Management L.P. trimmed its stake in Uber Technologies, Inc. (NYSE:UBER) by 95.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,155 shares of the ride-sharing company’s stock after selling 2,430,000 shares during the period. Jericho Capital Asset Management L.P.’s holdings in Uber Technologies were worth $6,822,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in shares of Uber Technologies by 1,553.6% during the first quarter. First Horizon Advisors Inc. now owns 463 shares of the ride-sharing company’s stock worth $25,000 after purchasing an additional 435 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Uber Technologies during the first quarter worth $27,000. Whittier Trust Co. bought a new stake in shares of Uber Technologies during the first quarter worth $30,000. Concord Wealth Partners bought a new stake in shares of Uber Technologies during the fourth quarter worth $32,000. Finally, Grandview Asset Management LLC bought a new stake in shares of Uber Technologies during the first quarter worth $34,000. Hedge funds and other institutional investors own 73.50% of the company’s stock.
In other Uber Technologies news, insider Tony West sold 6,500 shares of the company’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $50.51, for a total value of $328,315.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.06% of the company’s stock.
Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 5th. The ride-sharing company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.01). The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $3.25 billion. Uber Technologies had a negative net margin of 34.45% and a negative return on equity of 42.11%. On average, equities analysts expect that Uber Technologies, Inc. will post -1.34 EPS for the current year.
Several equities analysts have recently issued reports on the company. Nomura assumed coverage on Uber Technologies in a research note on Monday, April 26th. They set a “buy” rating on the stock. Needham & Company LLC began coverage on Uber Technologies in a research note on Monday, May 3rd. They set a “buy” rating and a $77.00 price target on the stock. Wolfe Research began coverage on Uber Technologies in a research note on Thursday, April 1st. They issued an “outperform” rating and a $73.00 target price on the stock. Barclays increased their target price on Uber Technologies from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Finally, Wedbush reissued an “outperform” rating and issued a $66.00 target price (down previously from $76.00) on shares of Uber Technologies in a research note on Sunday, May 2nd. Four investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.31.
Uber Technologies Profile
Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services and other forms of transportation services, including public transit, as well as connect riders and other consumers with restaurants, grocers, other stores, and delivery service providers for meal preparation, grocery, and other delivery services.
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