Fernbridge Capital Management LP Has $37.05 Million Stake in Uber Technologies, Inc. (NYSE:UBER)

Fernbridge Capital Management LP reduced its holdings in Uber Technologies, Inc. (NYSE:UBER) by 30.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 492,918 shares of the ride-sharing company’s stock after selling 219,855 shares during the quarter. Uber Technologies comprises 2.3% of Fernbridge Capital Management LP’s portfolio, making the stock its 17th biggest holding. Fernbridge Capital Management LP’s holdings in Uber Technologies were worth $37,048,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ascent Wealth Partners LLC bought a new position in Uber Technologies in the 3rd quarter worth approximately $2,087,000. Aviso Wealth Management bought a new stake in Uber Technologies in the 3rd quarter valued at $2,302,000. Sumitomo Mitsui Trust Group Inc. grew its position in Uber Technologies by 9.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock worth $432,356,000 after purchasing an additional 512,591 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of 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 worth $688,000 after purchasing an additional 1,383 shares during the period. Finally, Lederer & Associates Investment Counsel CA acquired a new position in shares of Uber Technologies during the third quarter valued at about $799,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Trading Down 2.5 %

Shares of NYSE UBER opened at $71.56 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The company’s fifty day moving average is $75.49 and its 200-day moving average is $71.20. The stock has a market cap of $150.68 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 0.91 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Equities research analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UBER shares. Evercore ISI lifted their target price on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial decreased their price objective on Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Raymond James began coverage on Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price for the company. Roth Mkm lifted their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.51.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. This represents a 23.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by company insiders.

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.