Uber Technologies, Inc. $UBER Shares Sold by DnB Asset Management AS

Key Points

• DnB Asset Management AS has sold 16,251 shares of Uber Technologies, lowering its position by 2.9%, retaining 539,433 shares valued at approximately $39.3 million.
• Uber's stock is currently valued at $92.86, with a market capitalization of $193.65 billion and a P/E ratio of 15.82, reflecting strong recent earnings growth.
• Multiple analysts have raised their price targets for Uber, with Bank of America suggesting a target of $115.00 and Loop Capital raising its target to $105.00, indicating overall positive sentiment towards the stock.

DnB Asset Management AS trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 539,433 shares of the ride-sharing company's stock after selling 16,251 shares during the quarter. DnB Asset Management AS's holdings in Uber Technologies were worth $39,303,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of UBER. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies during the fourth quarter worth $27,000. Kozak & Associates Inc. boosted its position in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the first quarter worth $27,000. Vision Financial Markets LLC purchased a new stake in Uber Technologies during the first quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC boosted its position in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the sale, the insider owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,696 shares of company stock valued at $4,632,774. Insiders own 3.84% of the company's stock.

Uber Technologies Trading Down 1.2%

Uber Technologies stock traded down $1.09 during trading on Friday, hitting $90.89. The company's stock had a trading volume of 20,364,649 shares, compared to its average volume of 14,781,707. The stock has a market capitalization of $189.54 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.05 and a beta of 1.43. The stock's fifty day moving average is $92.42 and its 200 day moving average is $84.01. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm's revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent research reports. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, May 15th. Raymond James Financial upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Citigroup upped their price objective on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group upped their price objective on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.