Concentric Capital Strategies LP Decreases Holdings in Uber Technologies, Inc. (NYSE:UBER)

Concentric Capital Strategies LP lowered its position in Uber Technologies, Inc. (NYSE:UBER) by 36.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,836 shares of the ride-sharing company’s stock after selling 109,335 shares during the quarter. Uber Technologies makes up approximately 0.6% of Concentric Capital Strategies LP’s portfolio, making the stock its 28th biggest position. Concentric Capital Strategies LP’s holdings in Uber Technologies were worth $14,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ascent Wealth Partners LLC bought a new position in Uber Technologies during the 3rd quarter worth approximately $2,087,000. Aviso Wealth Management bought a new position in shares of Uber Technologies in the third quarter worth approximately $2,302,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Uber Technologies by 9.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock worth $432,356,000 after buying an additional 512,591 shares during the period. Aptus Capital Advisors LLC raised its holdings in Uber Technologies by 17.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after buying an additional 1,383 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA purchased a new stake in Uber Technologies during the 3rd quarter valued at $799,000. 80.24% of the stock is currently owned by institutional investors.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the subject of several recent analyst reports. Raymond James began coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price objective for the company. The Goldman Sachs Group increased their price objective on Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Truist Financial dropped their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark restated a “hold” rating on shares of Uber Technologies in a report on Friday, November 1st. Finally, Tigress Financial lifted their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Stock Performance

Shares of UBER opened at $71.96 on Monday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The business has a fifty day moving average of $75.34 and a 200 day moving average of $71.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $151.53 billion, a P/E ratio of 35.80, a PEG ratio of 0.90 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.89 EPS for the current year.

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.