Top 5 Stock Picks of Roberto Mignone’s Bridger Management

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

Bridger Management’s Stake Value: $36,265,000
Percentage of Bridger Management’s 13F Portfolio: 5.94%
Number of Hedge Fund Holders: 144

In the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific, Uber Technologies, Inc. (NYSE:UBER) develops and manages proprietary technological applications. Bridger Management held more than 1.02 million shares in Uber Technologies, Inc. (NYSE:UBER), worth over $36.27 million. This represented 5.94% of its portfolio.

Fisher Asset Management owned 23.80 million shares of Uber Technologies, Inc. (NYSE:UBER), worth $849.07 million in the first quarter of 2022, making it the firm’s largest shareholder. The hedge fund has increased activity on Uber Technologies, Inc. (NYSE:UBER) stock by 58% in the first quarter of 2022.

On June 9, Eric Sheridan, an analyst with Goldman Sachs, retained a Buy recommendation on Uber Technologies, Inc. (NYSE:UBER) and decreased his price objective to $45 from $55. A harsher macro climate may result from the analyst’s unfavorable prognosis for the food delivery and ridesharing sectors.

Out of all the hedge funds tracked by Insider Monkey, 144 reported ownership of stakes in Uber Technologies, Inc. (NYSE:UBER) at the end of the first quarter. This showed a downward trend from the preceding quarter, where 153 hedge funds were bullish on the company shares.

In its Q3 2021 investor letter, ClearBridge Investments, an investment management firm, mentioned Uber Technologies, Inc. (NYSE:UBER) and discussed its stance on the firm. Here is what the fund said:

“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.”