Jeff Bezos Stock Portfolio: 5 Companies Bezos Is Investing In

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

Number of Hedge Fund Holders: 135 

Bezos invested in Uber Technologies, Inc. (NYSE:UBER) back in 2011 when the company operated only about 7,000 cars and generated $1.8 million in net revenue.

This September, Doug Anmuth of JPMorgan raised the firm’s price target on Uber Technologies, Inc. (NYSE:UBER) to $72, with an ‘Overweight’ rating on the shares. Anmuth lauded the company for exhibiting a stronger execution and noted that it is well-positioned to benefit as the supply trends continue to improve.

Altimeter Capital Management is the company’s largest shareholder at the end of Q2 2021, with shares valued at over $1.2 billion. Overall, 135 hedge funds tracked by Insider Monkey were bullish on Uber Technologies, Inc. (NYSE:UBER) in Q2, valued at $10.4 billion. This shows that hedge fund sentiment is positive for the ride-hailing company as 130 hedge funds had stakes in the company in Q1. 

ClearBridge Investments mentioned Uber Technologies, Inc. (NYSE:UBER) in its Q2 2021 investor letter. Here is what the firm has to say: 

“The pandemic has also brought attention to the question of gig worker employment status for companies, including ClearBridge holdings Uber and Lyft. In the U.K., Uber proactively classified its drivers as “workers” ahead of final rulings from the British court system. The worker status in the U.K. is a designation between self-employed and employed status that entitles drivers to minimum wage, holiday pay and in some cases a pension.

ClearBridge has engaged with Uber on labor issues since its IPO, and we have given feedback over that time to the CEO, CFO, Chief Legal Officer and Investor Relations on labor relations as well as strategy and communications. Uber’s agreement on this designation is ahead of other competitors in the market and the legal mandate represents a step forward in the company’s thinking about labor. The agreement represents a short-term hit to earnings, yet in some ways it places Uber ahead of the market in its ability to balance labor and shareholder interests. Workers benefit from improved conditions, with new contributions amounting to roughly 3% of a driver’s earnings, while Uber establishes more certainty on costs and visibility into its regulatory environment and operation conditions in the future.”

You can also take a look at Top Stocks to Invest In According to Jeffrey Ubben’s ValueAct Capital and 11 Stocks to Buy Now According to Jeffrey Gendell’s Tontine Asset Management

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