Evolutionary Tree Capital Management LLC Cuts Holdings in Uber Technologies, Inc. (NYSE:UBER)

Evolutionary Tree Capital Management LLC cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,135 shares of the ride-sharing company’s stock after selling 960 shares during the period. Uber Technologies makes up approximately 4.0% of Evolutionary Tree Capital Management LLC’s portfolio, making the stock its 7th biggest position. Evolutionary Tree Capital Management LLC’s holdings in Uber Technologies were worth $3,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its stake in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. Financial Management Professionals Inc. grew its stake in shares of Uber Technologies by 111.6% in the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. WR Wealth Planners LLC increased its stake in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $32,000. Finally, MCF Advisors LLC increased its position in shares of Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Price Performance

UBER stock opened at $73.94 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $69.60 and its two-hundred day moving average price is $70.72. The stock has a market capitalization of $154.50 billion, a price-to-earnings ratio of 119.26, a PEG ratio of 1.27 and a beta of 1.33. Uber Technologies, Inc. has a 12-month low of $40.09 and a 12-month high of $82.14.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Uber Technologies’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Uber Technologies, Inc. will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on UBER shares. Wolfe Research began coverage on Uber Technologies in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 price objective on the stock. Piper Sandler upped their target price on shares of Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. The Goldman Sachs Group raised their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on shares of Uber Technologies in a report on Thursday, September 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $92.00 price objective on shares of Uber Technologies in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.60.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now owns 127,352 shares in the company, valued at $9,169,344. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

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.