Billionaire George Soros is Selling These 5 Stocks in 2022

4. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 153

Uber Technologies, Inc. (NYSE:UBER) is an American company that operates a mobility-as-a-service platform, offering vehicles for hire, food delivery, package delivery, courier services, and freight transport. George Soros’ fund discarded in Q1 2022 the 529,297 Uber Technologies, Inc. (NYSE:UBER) shares it owned in Q4 2021, worth over $22 million. 

Oppenheimer analyst Jason Helfstein lowered the price target on Uber Technologies, Inc. (NYSE:UBER) to $40 from $45 but kept an Outperform rating on the shares on May 5 as the company continues to make headway towards real profitability, with Q2 EBITDA guided 2% to 3% above Street consensus. As per the analyst, Uber Technologies, Inc. (NYSE:UBER)’s full suite of products offers the chance to target higher wallet share and cross-selling opportunities, in addition to creating a competitive advantage for driver acquisition. While management did not issue a full-year guidance for 2022, incremental Mobility/consolidated margins of +10%/+5% were reiterated, he told investors.

According to the database of elite funds maintained by Insider Monkey, Uber Technologies, Inc. (NYSE:UBER) was part of 153 public hedge fund portfolios at the end of Q4 2021, up from 143 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management owned a notable stake in Uber Technologies, Inc. (NYSE:UBER) in Q1 2022, with 23.7 million shares worth $849 million. 

Here is what ClearBridge Large Cap Growth Strategy has to say about Uber Technologies, Inc. (NYSE:UBER) in its Q3 2021 investor letter:

“We have also been looking for multi-year secular trends outside of the IT and Internet sectors to help us maintain a portfolio that can perform well in markets with varied sector or factor leadership. In particular, electrification of the global economy and the transition to electric vehicles (EVs) are areas where we continue to add exposure. We are investing in the brains behind EVs through NXP in the control center and Aptiv for safety features. Global rideshare leader Uber will also be a key player in the transition from internal combustion engines to EVs.”