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

KLP Kapitalforvaltning AS decreased its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Ignite Planners LLC bought a new stake in shares of Uber Technologies in the 1st quarter worth about $228,000. Fagan Associates Inc. grew its holdings in Uber Technologies by 14.9% during the 1st quarter. Fagan Associates Inc. now owns 108,500 shares of the ride-sharing company's stock worth $7,905,000 after acquiring an additional 14,103 shares during the last quarter. Clifford Swan Investment Counsel LLC bought a new stake in Uber Technologies during the 1st quarter worth about $209,000. HighPoint Advisor Group LLC grew its holdings in Uber Technologies by 9.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 54,335 shares of the ride-sharing company's stock worth $4,315,000 after acquiring an additional 4,484 shares during the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in Uber Technologies by 43.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 9,420 shares of the ride-sharing company's stock worth $686,000 after acquiring an additional 2,858 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Down 2.0%

UBER stock traded down $1.83 during mid-day trading on Wednesday, hitting $89.96. 18,548,356 shares of the company were exchanged, compared to its average volume of 21,177,407. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $188.12 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.05 and a beta of 1.40. The firm's 50 day simple moving average is $89.22 and its 200 day simple moving average is $78.82. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $97.72.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted ($0.32) EPS. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wedbush lowered shares of Uber Technologies from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $80.00 to $85.00 in a report on Thursday, May 8th. Needham & Company LLC set a $109.00 price objective on shares of Uber Technologies and gave the stock a "buy" rating in a report on Monday, July 14th. KeyCorp increased their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley reissued an "overweight" rating and set a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a report on Monday. Finally, Roth Capital set a $110.00 target price on shares of Uber Technologies and gave the company a "buy" rating in a research note on Monday, July 14th. Ten research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.79.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the sale, the insider owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,384 shares of company stock worth $3,496,071 over the last 90 days. Corporate insiders own 3.70% of the company's stock.

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.