Jennison Associates LLC Sells 9,417,497 Shares of Uber Technologies, Inc. (NYSE:UBER)

Jennison Associates LLC cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 31.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,958,116 shares of the ride-sharing company’s stock after selling 9,417,497 shares during the period. Uber Technologies accounts for 1.1% of Jennison Associates LLC’s holdings, making the stock its 28th biggest holding. Jennison Associates LLC owned about 1.01% of Uber Technologies worth $1,613,565,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Covenant Asset Management LLC boosted its stake in Uber Technologies by 0.3% in the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock valued at $4,078,000 after acquiring an additional 157 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Uber Technologies by 2.9% in the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after buying an additional 157 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Uber Technologies by 3.3% in the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock worth $376,000 after buying an additional 157 shares during the last quarter. Drive Wealth Management LLC raised its holdings in shares of Uber Technologies by 3.6% in the fourth quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company’s stock worth $289,000 after buying an additional 163 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Uber Technologies by 6.6% in the first quarter. Quent Capital LLC now owns 2,732 shares of the ride-sharing company’s stock worth $210,000 after buying an additional 170 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UBER has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of Uber Technologies in a report on Tuesday, May 28th. Loop Capital reduced their target price on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Oppenheimer reissued an “outperform” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday, June 5th. BMO Capital Markets reissued an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a report on Wednesday, May 15th. Finally, TD Cowen cut their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.41.

Uber Technologies Trading Up 0.3 %

Shares of Uber Technologies stock traded up $0.18 on Monday, reaching $71.24. The company had a trading volume of 7,227,363 shares, compared to its average volume of 19,093,826. Uber Technologies, Inc. has a 52-week low of $40.09 and a 52-week high of $82.14. The firm’s 50 day moving average price is $68.14 and its two-hundred day moving average price is $70.23. The firm has a market cap of $148.86 billion, a PE ratio of 114.90, a PEG ratio of 1.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. Uber Technologies’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that Uber Technologies, Inc. will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 28,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now owns 96,945 shares in the company, valued at approximately $6,851,103.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now owns 96,945 shares of the company’s stock, valued at approximately $6,851,103.15. The disclosure for this sale can be found here. Insiders sold 635,984 shares of company stock worth $42,258,297 in the last 90 days. Corporate insiders own 3.80% 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.