Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 59,128 shares of the ride-sharing company's stock, valued at approximately $4,308,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. North Point Portfolio Managers Corp OH purchased a new position in shares of Uber Technologies in the 1st quarter worth $12,200,000. Heartland Bank & Trust Co purchased a new position in shares of Uber Technologies in the 1st quarter worth about $443,000. Cyr Financial Inc. lifted its stake in shares of Uber Technologies by 1.8% in the 1st quarter. Cyr Financial Inc. now owns 13,117 shares of the ride-sharing company's stock valued at $956,000 after purchasing an additional 226 shares in the last quarter. Cullinan Associates Inc. grew its holdings in shares of Uber Technologies by 7.0% during the 1st quarter. Cullinan Associates Inc. now owns 107,519 shares of the ride-sharing company's stock worth $7,834,000 after purchasing an additional 7,000 shares during the period. Finally, Tower View Wealth Management LLC increased its position in Uber Technologies by 1.8% during the 1st quarter. Tower View Wealth Management LLC now owns 24,408 shares of the ride-sharing company's stock worth $1,778,000 after purchasing an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on UBER shares. KeyCorp increased their target price on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group increased their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, May 7th. Bank of America increased their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Tigress Financial set a $110.00 target price on shares of Uber Technologies and gave the stock a "buy" rating in a research report on Friday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $94.39.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $83.73 on Friday. The firm's 50-day simple moving average is $83.53 and its 200 day simple moving average is $74.41. The stock has a market cap of $175.09 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.07 and a beta of 1.38. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $93.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. Uber Technologies's revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) earnings per share. Equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.

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