Kornitzer Capital Management Inc. KS Sells 8,970 Shares of Uber Technologies, Inc. (NYSE:UBER)

Kornitzer Capital Management Inc. KS trimmed its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,357 shares of the ride-sharing company's stock after selling 8,970 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Uber Technologies were worth $12,048,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of UBER. Clark Capital Management Group Inc. boosted its stake in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after buying an additional 399,008 shares in the last quarter. UMB Bank n.a. boosted its stake in Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after buying an additional 3,073 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after buying an additional 6,129 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $1,875,000. Finally, APG Asset Management N.V. purchased a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $84,687,000. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on UBER. Raymond James Financial lowered Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, June 18th. Citigroup raised their price target on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Bank of America raised their price target on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price target on Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, KeyCorp increased their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.63.

Uber Technologies Price Performance

NYSE UBER traded down $0.24 during trading hours on Thursday, reaching $90.51. The company's stock had a trading volume of 16,886,335 shares, compared to its average volume of 21,208,591. The firm's 50-day moving average price is $88.90 and its 200-day moving average price is $78.17. 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, Inc. has a 1 year low of $54.84 and a 1 year high of $97.72. The company has a market capitalization of $189.27 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.17 and a beta of 1.40.

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

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company'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 directly owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company'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 value of $3,001,070.52. Following 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 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 ninety days. Insiders own 3.84% of the company's stock.

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.