Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Uber Technologies, Inc. (NYSE:UBER)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 7.7% in the third quarter, Holdings Channel.com reports. The firm owned 62,203 shares of the ride-sharing company’s stock after selling 5,193 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Uber Technologies were worth $4,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after buying an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. GQG Partners LLC raised its stake in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after purchasing an additional 9,541,366 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after purchasing an additional 237,976 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Uber Technologies by 9.6% during the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock worth $889,956,000 after purchasing an additional 1,076,876 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 23.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on UBER. Truist Financial cut their price objective on Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Raymond James assumed coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target on the stock. Melius Research initiated coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Thursday, October 31st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $92.00 price target on shares of Uber Technologies in a research report on Friday, October 11th. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Trading Up 2.5 %

Shares of UBER opened at $73.26 on Friday. The business’s 50-day moving average price is $75.40 and its 200 day moving average price is $71.01. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $154.26 billion, a P/E ratio of 36.45, a P/E/G ratio of 0.71 and a beta of 1.34. Uber Technologies, Inc. has a 1-year low of $53.15 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. Analysts expect that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

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.