Uber Technologies, Inc. $UBER Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Uber Technologies by 2.4%, holding 712,800 shares valued at approximately $66.5 million after acquiring an additional 16,600 shares in the latest quarter.
• Several analysts have revised their ratings and price targets for Uber, with a consensus price target of $104.03 and a majority of analysts rating it a Moderate Buy.
• Uber reported $12.65 billion in revenue for the last quarter, surpassing estimates, and achieved a net margin of 26.68% with earnings per share of $0.63.

KLP Kapitalforvaltning AS lifted its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 712,800 shares of the ride-sharing company's stock after purchasing an additional 16,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Uber Technologies were worth $66,504,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after buying an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies in the 1st quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC grew its holdings in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Northern Trust Corp increased its stake in Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after purchasing an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after purchasing an additional 394,157 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. 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 report on Monday, July 21st. Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Canaccord Genuity Group restated a "hold" rating and set a $84.00 target price (down from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Raymond James Financial upped their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. Finally, Bank of America increased 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. Two analysts have 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. According to data from MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $104.03.

Uber Technologies Stock Performance

Shares of UBER opened at $100.02 on Tuesday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company's 50 day simple moving average is $94.12 and its 200 day simple moving average is $87.40. The company has a market capitalization of $208.58 billion, a price-to-earnings ratio of 17.04 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the firm posted $0.47 EPS. Uber Technologies's revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 601,821 shares of company stock worth $58,659,491 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

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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