Kentucky Retirement Systems Sells 8,538 Shares of Uber Technologies, Inc. $UBER

Kentucky Retirement Systems reduced its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 130,284 shares of the ride-sharing company’s stock after selling 8,538 shares during the period. Kentucky Retirement Systems’ holdings in Uber Technologies were worth $12,155,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in UBER. Brant Point Investment Management LLC purchased a new stake in shares of Uber Technologies during the 2nd quarter valued at about $933,000. Prudential PLC grew its position in Uber Technologies by 15.7% in the second quarter. Prudential PLC now owns 216,855 shares of the ride-sharing company’s stock worth $20,233,000 after acquiring an additional 29,359 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Uber Technologies by 1.7% during the second quarter. Panagora Asset Management Inc. now owns 2,082,067 shares of the ride-sharing company’s stock worth $194,257,000 after acquiring an additional 35,418 shares during the last quarter. M&T Bank Corp raised its position in Uber Technologies by 13.9% during the second quarter. M&T Bank Corp now owns 426,163 shares of the ride-sharing company’s stock valued at $39,761,000 after purchasing an additional 52,002 shares during the period. Finally, Hilltop National Bank purchased a new stake in Uber Technologies during the second quarter valued at approximately $96,000. 80.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UBER. Erste Group Bank downgraded Uber Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Stifel Nicolaus set a $122.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. BMO Capital Markets reduced their target price on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group restated a “buy” rating on shares of Uber Technologies in a report on Wednesday, November 5th. Finally, Wells Fargo & Company cut their price target on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Uber Technologies Trading Down 0.4%

NYSE UBER opened at $85.13 on Friday. The stock has a market cap of $176.88 billion, a PE ratio of 10.94 and a beta of 1.19. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company’s 50-day moving average price is $91.78 and its 200-day moving average price is $91.78. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at $98,726,021.12. The trade was a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 267,625 shares of company stock worth $26,774,660. Company insiders own 3.84% of the company’s stock.

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.