Norges Bank Acquires New Shares in Uber Technologies, Inc. $UBER

Norges Bank bought a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, Holdings Channel.com reports. The firm bought 25,169,555 shares of the ride-sharing company’s stock, valued at approximately $2,348,319,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vision Financial Markets LLC acquired a new stake in Uber Technologies in the 1st quarter worth approximately $27,000. West Oak Capital LLC bought a new position in shares of Uber Technologies in the second quarter valued at approximately $28,000. Truvestments Capital LLC lifted its stake in shares of Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after buying an additional 339 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in shares of Uber Technologies during the 2nd quarter worth $30,000. Finally, Ransom Advisory Ltd acquired a new position in Uber Technologies in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $85.79 on Friday. The firm has a market capitalization of $178.26 billion, a price-to-earnings ratio of 11.03 and a beta of 1.46. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The business has a fifty day simple moving average of $93.90 and a 200 day simple moving average of $91.88. 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 announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In other Uber Technologies news, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at approximately $108,010,721.28. The trade was a 20.94% 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 link. Also, insider Tony West sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 567,625 shares of company stock valued at $55,385,660 over the last quarter. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. DA Davidson boosted their target price on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $108.00 target price on shares of Uber Technologies in a report on Wednesday, October 29th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Stifel Nicolaus set a $122.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $100.00 target price on shares of Uber Technologies in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $108.26.

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.