Uber Technologies, Inc. (NYSE:UBER) Shares Bought by Jennison Associates LLC
Jennison Associates LLC has significantly increased its stake in the ride-sharing giant Uber Technologies, Inc. (NYSE:UBER) by 36.9% in the fourth quarter. According to the most recent Form 13F filed with the Securities & Exchange Commission, the investment firm now owns 26,460,312 shares of Uber Technologies after purchasing an additional 7,137,512 shares during the quarter. At the end of the reporting period, these holdings represented 1.26% of Uber Technologies, with a valuation of approximately $1,596,086,000, making it the 25th largest holding in Jennison Associates LLC’s investment portfolio.
In addition to Jennison Associates LLC, several other large investors have been active in acquiring and selling shares of Uber Technologies. One Wealth Advisors LLC acquired a new stake valued at approximately $200,000. Lazari Capital Management Inc. increased its stake by 1.1%, now owning 199,482 shares worth $12,033,000. Another investor, Lederer & Associates Investment Counsel CA, raised its holdings by 61.6%, bringing their total to 17,188 shares valued at $1,037,000. Chicago Capital LLC lifted its position by 4.8% with a total of 904,716 shares valued at $54,572,000. Oak Family Advisors LLC also purchased a new stake valued at $3,535,000. Overall, hedge funds and institutional investors own 80.24% of Uber’s stock.
On the trading front, Uber Technologies’ shares opened at $66.86 on Monday. The company has had a 12-month low of $54.84 and a high of $87.00 with a market capitalization of $140.79 billion. Uber’s financial metrics include a price-to-earnings ratio of 33.26, a PEG ratio of 0.77, and a beta of 1.39. The company’s current and quick ratios stand at 1.41, supported by a debt-to-equity ratio of 0.70.
In its latest earnings report, Uber Technologies announced a quarterly earnings per share (EPS) of $1.20, surpassing analysts’ estimates of $0.41 by $0.79. The company’s quarterly revenue was $11.19 billion, exceeding the forecast of $10.99 billion and marking a 20.4% year-over-year increase. Notably, Uber’s net margin was 10.49%, with a return on equity of 33.46%. Analysts predict that Uber Technologies, Inc. will report an EPS of 1.89 for the current year.
Insider activity within Uber Technologies includes Jill Hazelbaker, who sold 27,780 shares, amounting to a total value of $2,025,162. After this transaction, Hazelbaker still holds 107,289 shares worth $7,821,368.10. The sale represented a 20.57% decrease in Hazelbaker’s position, part of the 3.80% of company stock owned by insiders.
The overall market sentiment for Uber Technologies among brokerages remains positive. DA Davidson recently raised their price target for Uber from $82.00 to $84.00, maintaining a “buy” rating. Similarly, Loop Capital increased its price target from $84.00 to $86.00 and issued a “buy” rating. Contrastingly, KeyCorp reduced their price target from $90.00 to $85.00 but maintained an “overweight” rating. Analysts from Evercore ISI went further, raising their target price from $90.00 to $120.00 with an “outperform” rating. In total, seven analysts have given the stock a “hold” rating, with thirty-one recommending a “buy” and one issuing a “strong buy” rating. As per current data, Uber Technologies holds a consensus rating of “Moderate Buy” with an average target price of $91.08.
Uber Technologies, Inc. continues to innovate and expand its services beyond traditional ride-sharing. The company operates through three main segments: Mobility, Delivery, and Freight. The Mobility segment encompasses not only ridesharing but also diverse transportation options such as carsharing, micromobility, and public transit, along with various vehicle types and related financial products. These strategic expansions contribute to Uber’s growth and presence across regions including the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia, excluding China and Southeast Asia.
