Principal Financial Group Inc. Sells 61,992 Shares of Uber Technologies, Inc. (NYSE:UBER)

Principal Financial Group Inc. lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,409,092 shares of the ride-sharing company's stock after selling 61,992 shares during the period. Principal Financial Group Inc. owned 0.12% of Uber Technologies worth $175,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UBER. Navalign LLC lifted 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 last quarter. Grove Bank & Trust increased its position in Uber Technologies by 0.9% in the first 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. Amplius Wealth Advisors LLC lifted its stake in 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 valued at $302,000 after buying an additional 145 shares during the last quarter. Welch & Forbes LLC boosted its holdings in shares of Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company's stock valued at $237,000 after acquiring an additional 148 shares during the period. Finally, United Advisor Group LLC grew its position in shares of Uber Technologies by 3.6% during the fourth quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company's stock worth $263,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Ratings Changes

UBER has been the subject of a number of analyst reports. KeyCorp boosted their target price on shares of Uber Technologies from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Bank of America boosted their price objective on Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, May 7th. Citigroup boosted their price target on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Twelve research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $94.85.

Uber Technologies Trading Up 1.5%

UBER stock traded up $1.41 during trading on Friday, hitting $93.46. The company had a trading volume of 8,112,562 shares, compared to its average volume of 21,089,075. The firm has a 50-day moving average price of $86.59 and a 200-day moving average price of $76.09. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $94.38. 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 stock has a market cap of $195.43 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.17 and a beta of 1.40.

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

Insider Buying and Selling

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, May 5th. The shares were sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer directly owned 21,063 shares of the company's stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction 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 sale, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.84% 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.