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Goldman Sachs dumped its entire stake in Uber late last year

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Uber CEO Dara Khosrowshahi

Patrick T. Fallon | Bloomberg | Getty Images

Goldman Sachs sold its entire stake in ride-hailing giant Uber in the fourth quarter, according to a person with direct knowledge of the move.

The sale, which likely resulted in a large gain for the early investor in Uber, helped the bank beat analysts’ expectations for revenue in the period. It appears that Goldman, which reported earnings Wednesday, sold at the earliest opportunity: Uber’s post-IPO lockup period for share sales ended in early November.

Goldman took advantage of “harvesting opportunities” in the quarter by selling some of its holdings, CFO Stephen Scherr told analysts Wednesday. He added that the bank…



Source cnbc.com

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