Uber Technologies, Inc. $UBER Shares Sold by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Uber Technologies by 15.9%, now holding 290,000 shares valued at approximately $21.13 million.
• Major institutional investors are adjusting their holdings, with 80.24% of Uber's stock now owned by institutions and hedge funds.
• Analysts remain positive, with an average price target of $103.06 and multiple firms issuing "buy" or "outperform" ratings for Uber Technologies.

Ilmarinen Mutual Pension Insurance Co reduced its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 290,000 shares of the ride-sharing company's stock after selling 55,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Uber Technologies were worth $21,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBER. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the 4th quarter worth approximately $27,000. Kozak & Associates Inc. grew its holdings in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in Uber Technologies in the first quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new position in Uber Technologies during the first quarter worth approximately $27,000. Finally, GPS Wealth Strategies Group LLC raised its stake 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 during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UBER. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Needham & Company LLC increased their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Raymond James Financial increased their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 7th. KeyCorp increased their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, UBS Group increased their price target on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. One equities research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Trading Up 0.5%

Shares of Uber Technologies stock traded up $0.51 during trading hours on Thursday, hitting $94.72. The company's stock had a trading volume of 16,183,957 shares, compared to its average volume of 14,522,019. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The business has a fifty day moving average of $92.57 and a 200 day moving average of $84.43. The company has a market capitalization of $197.53 billion, a PE ratio of 16.14, a P/E/G ratio of 1.08 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (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 net margin of 26.68% and a return on equity of 59.96%. The business's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $95.00, for a total transaction of $296,875.00. Following the completion of the transaction, the insider owned 170,269 shares of the company's stock, valued at $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,696 shares of company stock valued at $4,632,774 over the last ninety days. 3.84% of the stock is owned by company insiders.

About Uber Technologies

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.