Shellback Capital LP Sells 100,000 Shares of Uber Technologies, Inc. (NYSE:UBER)

Shellback Capital LP reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 50.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the ride-sharing company’s stock after selling 100,000 shares during the quarter. Shellback Capital LP’s holdings in Uber Technologies were worth $6,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UBER. Capital Research Global Investors grew its holdings in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Norges Bank acquired a new position in Uber Technologies during the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC grew its stake in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares in the last quarter. Boston Partners bought a new stake in Uber Technologies during the 4th quarter worth about $381,057,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Uber Technologies in the 4th quarter valued at about $298,644,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Trading Down 0.4%

NYSE:UBER opened at $90.07 on Friday. The firm has a fifty day simple moving average of $75.91 and a two-hundred day simple moving average of $71.91. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $92.17. The stock has a market capitalization of $188.35 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 0.89 and a beta of 1.43. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The firm had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the firm posted ($0.32) earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 23,404 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This trade represents a 11.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,788 shares of company stock worth $9,028,690 over the last three months. 3.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UBER shares. Evercore ISI decreased their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. TD Cowen dropped their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. DA Davidson upped their target price on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Barclays lifted their price target on Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a report on Monday, May 5th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.69.

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.