Steve Cohen Is Holding These 5 Tech Stocks Despite Selloff

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

Point72 Asset Management’s Holdings: $150 million

Percentage of Point72 Asset Management’s Portfolio: 0.59%

Number of Hedge Fund Holders: 153

Uber Technologies, Inc. (NYSE:UBER) is a ridesharing platform service provider that is widely regarded as having disrupted the transportation industry. The company provides a software application that lets riders connect with drivers, and it has diversified its product portfolio to also include delivery services.

As its fiscal first quarter came to an end, Uber Technologies, Inc. (NYSE:UBER) had raked in $6.9 billion in revenue and -$3.04 in EPS, beating analyst revenue estimates. Oppenheimer reduced its price target to $40 from $45 in May 2022, outlining that the company has a strong portfolio that increases incentives for drivers to sign up with it.

Mr. Cohen’s investment firm owned 4.2 million Uber Technologies, Inc. (NYSE:UBER) shares by the end of Q1 2022, allowing it to hold a $150 million stake in the company. 153 of the 924 hedge funds part of Insider Monkey’s Q4 2021 survey had invested in the firm.

Ken Fisher’s Fisher Asset Management is Uber Technologies, Inc. (NYSE:UBER)’s largest investor. It holds an $849 million stake that comes through  23 million shares.