Japanese Billionaire Masayoshi Son is Dumping These 4 Stocks

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

Number of Hedge Fund Holders: 129

Uber Technologies, Inc. (NYSE:UBER) is a San Francisco, California-based ride-hailing company that Softbank bought with an expectation that the company would pivot more towards autonomous driving. However, this did not come to fruition as Uber Technologies, Inc. (NYSE:UBER) abandoned its plans of coming up with an autonomous driving vehicle in December 2020.

Softbank initiated a position in Uber Technologies, Inc. (NYSE:UBER) in 2018 and again in 2019 to become one of the biggest shareholders in the company. In the same year, the Japanese conglomerate offloaded one-third of its stake in Uber Technologies, Inc. (NYSE:UBER). Softbank has sold the stake in Uber Technologies, Inc. (NYSE:UBER) at an average share price of $41.47. Meanwhile, the shares were bought at an average price of $34.50, resulting in Softbank generating a profit on the overall investment.

ClearBridge Investments shared its outlook on Uber Technologies, Inc. (NYSE:UBER) in its Q3 2021 investor letter:

“We have also been looking for multiyear 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.”

The number of hedge funds holding a stake in Uber Technologies, Inc. (NYSE:UBER) declined from 144 in Q1 2022 to 129 in Q2 2022.

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