Kornitzer Capital Management Inc. KS Sells 19,090 Shares of Uber Technologies, Inc. $UBER

Key Points

• Kornitzer Capital Management Inc. KS sold 19,090 shares of Uber Technologies, Inc. (NYSE: UBER), reducing its holdings by 11.5% to 146,267 shares, valued at $13.65 million.
• Insiders at Uber Technologies have significantly sold shares recently, with CEO Dara Khosrowshahi offloading 300,000 shares valued at over $28 million, representing a 20.94% decrease in ownership.
• Uber Technologies reported a quarterly earnings per share of $0.63, exceeding analysts' expectations, and its revenue rose by 18.2% year-over-year to $12.65 billion.

Kornitzer Capital Management Inc. KS reduced its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,267 shares of the ride-sharing company's stock after selling 19,090 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Uber Technologies were worth $13,647,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Leavell Investment Management Inc. increased its position in Uber Technologies by 9.9% in the 2nd quarter. Leavell Investment Management Inc. now owns 30,076 shares of the ride-sharing company's stock worth $2,806,000 after buying an additional 2,715 shares during the period. Shaker Investments LLC OH increased its position in shares of Uber Technologies by 79.6% during the second quarter. Shaker Investments LLC OH now owns 45,779 shares of the ride-sharing company's stock valued at $4,271,000 after purchasing an additional 20,294 shares during the period. CVA Family Office LLC increased its position in shares of Uber Technologies by 21.3% during the second quarter. CVA Family Office LLC now owns 4,328 shares of the ride-sharing company's stock valued at $404,000 after purchasing an additional 759 shares during the period. Brian Low Financial Group LLC bought a new stake in shares of Uber Technologies during the second quarter valued at approximately $300,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Uber Technologies during the second quarter valued at approximately $3,288,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Price Performance

Uber Technologies stock traded down $0.52 on Friday, reaching $94.09. The company's stock had a trading volume of 11,994,992 shares, compared to its average volume of 14,042,944. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $196.21 billion, a price-to-earnings ratio of 16.03 and a beta of 1.48. The business's fifty day moving average price is $95.42 and its 200 day moving average price is $89.38. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business's revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tony West sold 100,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the transaction, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This trade represents a 36.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 604,946 shares of company stock valued at $58,950,116 over the last ninety days. Company insiders own 3.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on UBER. Susquehanna boosted their price objective on Uber Technologies from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Barclays reiterated an "overweight" rating and issued a $110.00 price target (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Uber Technologies in a research report on Tuesday, October 14th. Finally, UBS Group upped their price target on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average target price of $105.91.

Uber Technologies Company 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.

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