Vega Investment Solutions Cuts Stock Position in Uber Technologies, Inc. $UBER

Vega Investment Solutions lessened its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 30.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,733 shares of the ride-sharing company’s stock after selling 7,267 shares during the quarter. Vega Investment Solutions’ holdings in Uber Technologies were worth $1,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies during the 1st quarter worth approximately $2,207,743,000. Norges Bank acquired a new stake in Uber Technologies during the second quarter worth about $2,348,319,000. Kingstone Capital Partners Texas LLC increased its holdings in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Vanguard Group Inc. increased its holdings in Uber Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after buying an additional 3,025,483 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Uber Technologies by 105.9% in the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after purchasing an additional 2,807,967 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on UBER shares. Piper Sandler set a $107.00 target price on Uber Technologies in a research report on Wednesday, November 5th. Truist Financial increased their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Stifel Nicolaus set a $122.00 price target on shares of Uber Technologies in a research report on Tuesday, November 4th. Finally, Barclays decreased their price target on shares of Uber Technologies from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $108.74.

Uber Technologies Stock Performance

Shares of Uber Technologies stock opened at $91.25 on Monday. The business’s 50 day moving average price is $92.80 and its 200 day moving average price is $91.84. The company has a market cap of $189.60 billion, a price-to-earnings ratio of 11.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Uber Technologies’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In related news, insider Tony West sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the transaction, the insider directly owned 174,135 shares in the company, valued at approximately $16,037,833.50. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the transaction, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 567,625 shares of company stock valued at $55,385,660 in the last 90 days. Company insiders own 3.70% of the company’s stock.

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 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.