Swedbank AB Decreases Position in Uber Technologies, Inc. $UBER

Key Points

• Swedbank AB has reduced its stake in Uber Technologies, Inc. by 13.5%, selling 109,021 shares during the 2nd quarter, leaving it with 698,868 shares worth approximately $65 million.
• Various institutional investors have recently changed their positions in Uber, with notable increases in holdings from firms like Pacer Advisors Inc. and Vanguard Group Inc., significantly boosting their shares during the 1st quarter.
• Uber Technologies recently reported earnings of $0.63 EPS, exceeding analyst expectations, with revenue growth of 18.2% year-over-year, reaching $12.65 billion in the last quarter.

Swedbank AB decreased its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 13.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 698,868 shares of the ride-sharing company's stock after selling 109,021 shares during the quarter. Swedbank AB's holdings in Uber Technologies were worth $65,204,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. boosted its stake in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company's stock worth $31,000 after acquiring an additional 125 shares in the last quarter. Navalign LLC lifted its holdings in shares of Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company's stock worth $1,536,000 after buying an additional 126 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company's stock valued at $1,030,000 after purchasing an additional 133 shares in the last quarter. Forum Financial Management LP raised its stake in Uber Technologies by 1.3% during the first quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company's stock worth $798,000 after acquiring an additional 136 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its position in 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 worth $34,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Up 4.2%

Shares of NYSE UBER traded up $3.98 during trading hours on Friday, reaching $98.68. The stock had a trading volume of 38,703,086 shares, compared to its average volume of 16,364,744. The firm has a market cap of $205.79 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.13 and a beta of 1.43. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $99.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The business's fifty day moving average price is $92.63 and its two-hundred day moving average price is $85.38.

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

Analysts Set New Price Targets

UBER has been the subject of several research analyst reports. Bank of America boosted their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. KeyCorp upped their price objective on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Sanford C. Bernstein upped their target price on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. UBS Group upped their price objective on Uber Technologies from $115.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus upped their price objective on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Buying and Selling

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider owned 86,531 shares of the company's stock, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,571 shares of company stock worth $33,810,741 in the last 90 days. Corporate insiders own 3.84% of the company's stock.

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.