Skandinaviska Enskilda Banken AB publ Has $28.36 Million Stake in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its stake in Uber Technologies, Inc. by 7.3% during the first quarter, now holding shares worth $28.36 million.
• Uber Technologies reported $0.83 earnings per share for the last quarter, exceeding estimates, with a revenue of $11.53 billion, marking a 13.8% year-over-year increase.
• Various analysts have provided positive ratings for Uber Technologies, with price targets ranging from $88.00 to $115.00, reflecting a consensus rating of "Moderate Buy".

Skandinaviska Enskilda Banken AB publ cut its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,290 shares of the ride-sharing company's stock after selling 30,700 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Uber Technologies were worth $28,360,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Transce3nd LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new stake in Uber Technologies in the fourth quarter worth $27,000. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies during the first quarter worth approximately $27,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares during the last quarter. Institutional investors own 80.24% of the company's stock.

Uber Technologies Price Performance

Uber Technologies stock opened at $91.31 on Friday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $97.71. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $89.29 and a 200-day moving average price of $79.51. The firm has a market capitalization of $190.94 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.05 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 for the quarter, topping 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 firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted ($0.32) earnings per share. The company's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a research report on Friday, May 23rd. TD Cowen cut their price target on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $106.00 price target (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Citigroup boosted their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Bank of America raised their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Ten investment 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 has a consensus rating of "Moderate Buy" and an average price target of $100.26.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction 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 transaction, the insider owned 102,135 shares of the company's stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock worth $3,496,071 over the last 90 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.

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