Renaissance Group LLC Sells 100,965 Shares of Uber Technologies, Inc. $UBER

Renaissance Group LLC lowered its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 21.2% during the second quarter, Holdings Channel reports. The fund owned 374,652 shares of the ride-sharing company’s stock after selling 100,965 shares during the period. Renaissance Group LLC’s holdings in Uber Technologies were worth $34,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vision Financial Markets LLC acquired a new position in shares of Uber Technologies during the first quarter worth approximately $27,000. West Oak Capital LLC bought a new position in Uber Technologies in the 2nd quarter worth approximately $28,000. Truvestments Capital LLC lifted its holdings in Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after buying an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Uber Technologies in the 2nd quarter valued at $30,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Uber Technologies in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UBER shares. Wedbush cut their price target on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. UBS Group set a $122.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a research report on Wednesday, November 5th. TD Cowen lifted their price target on shares of Uber Technologies from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Mizuho initiated coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.26.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 3,125 shares of Uber Technologies stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total transaction of $287,812.50. Following the transaction, the insider directly owned 174,135 shares in the company, valued at approximately $16,037,833.50. The trade was 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, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 602,000 shares of company stock worth $58,695,660. 3.70% of the stock is owned by corporate insiders.

Uber Technologies Stock Performance

Shares of UBER stock opened at $90.92 on Wednesday. The stock has a market cap of $188.92 billion, a PE ratio of 11.69 and a beta of 1.46. The stock has a 50-day moving average of $95.37 and a 200-day moving average of $91.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick 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 issued 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. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies Company 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.