Jennison Associates LLC Sells 101,846 Shares of Uber Technologies, Inc. (NYSE:UBER)

Jennison Associates LLC decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,322,800 shares of the ride-sharing company’s stock after selling 101,846 shares during the quarter. Uber Technologies makes up 0.9% of Jennison Associates LLC’s portfolio, making the stock its 27th largest position. Jennison Associates LLC owned 0.92% of Uber Technologies worth $1,452,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UBER. CENTRAL TRUST Co grew its stake in Uber Technologies by 12.3% in the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after purchasing an additional 127 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Uber Technologies by 2.1% in the third quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock valued at $476,000 after purchasing an additional 131 shares during the period. DT Investment Partners LLC raised its stake in shares of Uber Technologies by 21.4% in the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock worth $62,000 after purchasing an additional 145 shares during the last quarter. Jmac Enterprises LLC raised its stake in shares of Uber Technologies by 2.1% in the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after purchasing an additional 150 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its stake in shares of Uber Technologies by 0.6% in the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

NYSE UBER opened at $69.13 on Wednesday. The stock’s fifty day moving average is $75.47 and its two-hundred day moving average is $71.11. The firm has a market capitalization of $145.57 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 0.73 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies, Inc. has a fifty-two week low of $53.76 and a fifty-two week high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts anticipate that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Loop Capital raised their price objective on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.32.

Insider Activity

In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

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.