KLP Kapitalforvaltning AS Takes $44.84 Million Position in Uber Technologies, Inc. (NYSE:UBER)

KLP Kapitalforvaltning AS purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 743,300 shares of the ride-sharing company’s stock, valued at approximately $44,836,000.

A number of other large investors also recently bought and sold shares of UBER. Avion Wealth raised its stake in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new position in Uber Technologies in the fourth quarter worth approximately $28,000. GHP Investment Advisors Inc. raised its stake in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares in the last quarter. Kieckhefer Group LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth $33,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth $35,000. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 2.1 %

UBER stock opened at $75.94 on Friday. The company has a market cap of $158.65 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.89 and a beta of 1.39. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00. The firm has a 50-day moving average of $72.64 and a two-hundred day moving average of $71.59.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This represents a 17.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,404 shares of company stock valued at $5,587,619 in the last 90 days. Company insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UBER. Tigress Financial upped their price target on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. KGI Securities reissued a “neutral” rating and set a $78.00 price objective on shares of Uber Technologies in a report on Tuesday, March 11th. Citigroup dropped their price objective on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. UBS Group reissued a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Finally, Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

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.