Concentric Capital Strategies LP Sells 109,335 Shares of Uber Technologies, Inc. (NYSE:UBER)

Concentric Capital Strategies LP cut its holdings in Uber Technologies, Inc. (NYSE:UBER) by 36.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,836 shares of the ride-sharing company’s stock after selling 109,335 shares during the period. Uber Technologies accounts for 0.6% of Concentric Capital Strategies LP’s holdings, making the stock its 28th biggest holding. Concentric Capital Strategies LP’s holdings in Uber Technologies were worth $14,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its stake in Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares during the last quarter. WR Wealth Planners LLC raised its stake in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. MCF Advisors LLC lifted its position in Uber Technologies by 1,038.5% during the second 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. Founders Capital Management purchased a new position in shares of Uber Technologies in the 2nd quarter worth $33,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Uber Technologies in the 2nd quarter worth about $36,000. 80.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UBER. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, November 1st. Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a report on Thursday, October 17th. JMP Securities increased their price target on Uber Technologies from $80.00 to $95.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Thursday, October 31st. Finally, Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Thursday, October 31st. Six investment 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 company currently has an average rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Stock Up 0.5 %

NYSE:UBER opened at $71.96 on Monday. The company’s 50-day simple moving average is $75.34 and its 200-day simple moving average is $71.32. 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 $54.84 and a fifty-two week high of $87.00. The stock has a market capitalization of $151.53 billion, a P/E ratio of 35.80, a P/E/G ratio of 0.90 and a beta of 1.34.

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

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s 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 sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.84% of the stock is owned by company insiders.

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.