Fred Alger Management LLC Has $39.84 Million Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Fred Alger Management LLC reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 32.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 530,018 shares of the ride-sharing company’s stock after selling 253,973 shares during the quarter. Fred Alger Management LLC’s holdings in Uber Technologies were worth $39,836,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Goldentree Asset Management LP grew its holdings in shares of Uber Technologies by 15.4% during the 3rd quarter. Goldentree Asset Management LP now owns 659,518 shares of the ride-sharing company’s stock worth $49,501,000 after purchasing an additional 88,153 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Uber Technologies by 10.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,111,052 shares of the ride-sharing company’s stock worth $158,667,000 after purchasing an additional 198,791 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Uber Technologies by 4.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 57,823 shares of the ride-sharing company’s stock worth $4,346,000 after purchasing an additional 2,551 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Uber Technologies by 23.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 94,839 shares of the ride-sharing company’s stock worth $7,184,000 after purchasing an additional 17,727 shares in the last quarter. Finally, Financial Counselors Inc. bought a new stake in shares of Uber Technologies during the 3rd quarter worth $581,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on UBER shares. UBS Group upped their price objective on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Daiwa America downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Oppenheimer upped their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $90.51.

Uber Technologies Trading Up 0.1 %

NYSE UBER opened at $71.62 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The business has a 50 day simple moving average of $75.38 and a 200 day simple moving average of $71.20. The stock has a market capitalization of $150.81 billion, a P/E ratio of 35.63, a P/E/G ratio of 0.89 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating 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 firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.84% of the company’s stock.

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.