Zevenbergen Capital Investments LLC Cuts Stock Holdings in Uber Technologies, Inc. $UBER

Zevenbergen Capital Investments LLC reduced its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,508,937 shares of the ride-sharing company’s stock after selling 51,198 shares during the period. Uber Technologies makes up approximately 2.7% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 12th largest position. Zevenbergen Capital Investments LLC’s holdings in Uber Technologies were worth $140,784,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new position in Uber Technologies during the first quarter worth about $2,207,743,000. Northern Trust Corp raised its holdings in Uber Technologies by 3.9% during the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after purchasing an additional 720,122 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after purchasing an additional 394,157 shares in the last quarter. Finally, Boston Partners raised its holdings in Uber Technologies by 43.8% during the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company’s stock worth $658,686,000 after purchasing an additional 2,749,456 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UBER has been the subject of several analyst reports. Wedbush cut their price target on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wells Fargo & Company increased their target price on shares of Uber Technologies from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Cowen reaffirmed a “buy” rating on shares of Uber Technologies in a report on Thursday, August 7th. Bank of America increased their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.06.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This represents a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,696 shares of company stock valued at $4,632,774 over the last three months. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Up 1.3%

UBER stock opened at $95.90 on Friday. The company’s 50 day simple moving average is $92.62 and its 200-day simple moving average is $84.64. The firm has a market capitalization of $199.99 billion, a PE ratio of 16.34, a P/E/G ratio of 1.09 and a beta of 1.43. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $97.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. Equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.