Uber Technologies, Inc. $UBER Holdings Cut by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in Uber Technologies by 26.8%, now holding 807,889 shares valued at approximately $58.86 million following a sale of 295,272 shares.
• Uber reported better-than-expected quarterly earnings, with an EPS of $0.63 beating the consensus estimate of $0.61, and revenue of $12.65 billion, surpassing analyst expectations.
• Recent analyst ratings for Uber show a range of predictions, with price targets varying significantly, including upgrades from KeyCorp and Royal Bank of Canada to between $100 and $110.

Swedbank AB decreased its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 26.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 807,889 shares of the ride-sharing company's stock after selling 295,272 shares during the quarter. Swedbank AB's holdings in Uber Technologies were worth $58,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Uber Technologies by 33.6% in the 1st 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. Geneos Wealth Management Inc. increased its stake in shares of Uber Technologies by 805.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock worth $7,483,000 after purchasing an additional 91,362 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the last quarter. GK Wealth Management LLC acquired a new position in shares of Uber Technologies during the 1st quarter worth $234,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Uber Technologies during the 1st quarter worth $943,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

NYSE:UBER opened at $95.90 on Friday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $97.71. The firm's fifty day simple moving average is $92.62 and its 200 day simple moving average is $84.58. 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 firm has a market capitalization of $199.99 billion, a PE ratio of 16.34, a PEG ratio of 1.09 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) 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 business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the business posted $0.47 EPS. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

UBER has been the topic of several analyst reports. KeyCorp increased their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wedbush dropped their price target on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada increased their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Sanford C. Bernstein increased their price target on shares of Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Canaccord Genuity Group restated a "hold" rating and set a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $103.06.

Insider Activity at Uber Technologies

In other Uber Technologies news, 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 sale, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction 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 completion of the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,696 shares of company stock valued at $4,632,774. Company 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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.