Kentucky Retirement Systems Insurance Trust Fund Makes New $4.31 Million Investment in Uber Technologies, Inc. (NYSE:UBER)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 59,128 shares of the ride-sharing company’s stock, valued at approximately $4,308,000.

Other institutional investors have also recently bought and sold shares of the company. Clark Capital Management Group Inc. boosted its position in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after acquiring an additional 399,008 shares during the period. UMB Bank n.a. lifted its holdings in shares of Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock valued at $890,000 after buying an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings 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 valued at $939,000 after buying an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Uber Technologies during the 4th quarter valued at about $1,875,000. Finally, APG Asset Management N.V. acquired a new stake in shares of Uber Technologies during the 4th quarter valued at about $84,687,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

UBER opened at $83.73 on Friday. The stock has a market cap of $175.09 billion, a PE ratio of 14.66, a P/E/G ratio of 1.07 and a beta of 1.38. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The stock’s 50 day simple moving average is $83.53 and its 200-day simple moving average is $74.41.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The firm had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business posted ($0.32) earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UBER shares. Wall Street Zen upgraded Uber Technologies from a “hold” rating to a “buy” rating in a report on Sunday, June 15th. UBS Group boosted their target price on Uber Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Barclays boosted their target price on Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. KGI Securities restated a “neutral” rating and issued a $78.00 target price on shares of Uber Technologies in a report on Tuesday, March 11th. Finally, TD Cowen reduced their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Eleven analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.39.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares of the company’s stock, valued at approximately $1,790,355. The trade was a 11.55% 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 this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

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.