KLP Kapitalforvaltning AS Sells 47,100 Shares of Uber Technologies, Inc. (NYSE:UBER)

KLP Kapitalforvaltning AS lessened its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 696,200 shares of the ride-sharing company's stock after selling 47,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Uber Technologies were worth $50,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Navalign LLC grew its stake in Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock valued at $1,536,000 after acquiring an additional 126 shares during the last quarter. Grove Bank & Trust raised its position in shares of Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock worth $1,030,000 after buying an additional 133 shares during the period. Forum Financial Management LP lifted its stake in shares of Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after purchasing an additional 136 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Uber Technologies by 42.1% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company's stock worth $34,000 after purchasing an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its position in shares of Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock worth $302,000 after buying an additional 145 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Trading Down 0.1%

Uber Technologies stock traded down $0.13 during mid-day trading on Friday, hitting $90.74. The stock had a trading volume of 7,710,975 shares, compared to its average volume of 22,371,826. The stock has a market capitalization of $189.75 billion, a PE ratio of 15.90, a P/E/G ratio of 1.04 and a beta of 1.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.71. The stock has a 50-day simple moving average of $89.30 and a two-hundred day simple moving average of $79.34.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In related news, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider owned 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% 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, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,384 shares of company stock valued at $3,496,071 over the last 90 days. Corporate insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

UBER has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a report on Thursday, May 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $115.00 price target (up from $95.00) on shares of Uber Technologies in a research note on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. The Goldman Sachs Group upped their price target on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Wedbush lowered shares of Uber Technologies from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $80.00 to $85.00 in a research note on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $100.26.

Uber Technologies 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.