Renaissance Technologies LLC Sells 6,031,849 Shares of Uber Technologies, Inc. (NYSE:UBER)

Renaissance Technologies LLC trimmed its position in Uber Technologies, Inc. (NYSE:UBER) by 92.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 489,700 shares of the ride-sharing company’s stock after selling 6,031,849 shares during the period. Renaissance Technologies LLC’s holdings in Uber Technologies were worth $35,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UBER. Citizens Financial Group Inc. RI boosted its stake in shares of Uber Technologies by 2,129.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 102,609 shares of the ride-sharing company’s stock worth $7,458,000 after buying an additional 98,007 shares during the last quarter. One Capital Management LLC boosted its position in Uber Technologies by 26.2% in the second quarter. One Capital Management LLC now owns 3,489 shares of the ride-sharing company’s stock worth $254,000 after purchasing an additional 725 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Uber Technologies by 278.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 45,059 shares of the ride-sharing company’s stock valued at $3,275,000 after purchasing an additional 33,142 shares during the period. Menard Financial Group LLC increased its position in shares of Uber Technologies by 39.9% during the 2nd quarter. Menard Financial Group LLC now owns 25,119 shares of the ride-sharing company’s stock valued at $1,826,000 after purchasing an additional 7,163 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Uber Technologies by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,798,884 shares of the ride-sharing company’s stock worth $203,401,000 after purchasing an additional 341,312 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on UBER shares. Bank of America restated a “buy” rating and set a $88.00 price objective on shares of Uber Technologies in a report on Friday, August 23rd. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of Uber Technologies in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JMP Securities raised their target price on Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley upped their price target on Uber Technologies from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated 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 owns 127,352 shares in the company, valued at $9,169,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a filing with the SEC, which is available through 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 transaction 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. The disclosure for this sale can be found here. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

Uber Technologies stock opened at $73.53 on Thursday. Uber Technologies, Inc. has a 1-year low of $40.09 and a 1-year high of $82.14. The firm has a market cap of $154.48 billion, a P/E ratio of 118.60, a P/E/G ratio of 1.27 and a beta of 1.33. 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 has a 50-day moving average of $69.53 and a 200-day moving average of $70.79.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Sell-side analysts expect that Uber Technologies, Inc. will post 1.06 EPS for the current year.

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.