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

KLP Kapitalforvaltning AS cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 hedge funds have also modified their holdings of the business. Navalign LLC raised its holdings in shares of Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after purchasing an additional 126 shares during the period. Grove Bank & Trust raised its holdings in shares of Uber Technologies by 0.9% during the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after buying an additional 133 shares during the period. Forum Financial Management LP raised its holdings in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock valued at $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of 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 valued at $34,000 after buying an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC raised its holdings in shares of Uber Technologies by 3.6% during the 1st quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company's stock valued at $302,000 after buying an additional 145 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Trading Up 0.7%

NYSE:UBER traded up $0.66 during trading hours on Tuesday, hitting $91.82. 11,544,333 shares of the stock were exchanged, compared to its average volume of 21,141,099. The company's 50 day moving average is $89.22 and its two-hundred day moving average is $78.82. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $192.02 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $97.72.

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

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the firm'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 sale, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock valued at $3,496,071 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UBER. Morgan Stanley lifted their target price on Uber Technologies from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday. The Goldman Sachs Group raised their price target on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Stifel Nicolaus assumed coverage on Uber Technologies in a research note on Wednesday, June 11th. They set a "buy" rating and a $110.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company's stock. According to MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $98.53.

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.