Kentucky Retirement Systems Cuts Stock Position in Uber Technologies, Inc. $UBER

Kentucky Retirement Systems decreased its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,284 shares of the ride-sharing company’s stock after selling 8,538 shares during the quarter. Kentucky Retirement Systems’ holdings in Uber Technologies were worth $12,155,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. North Dallas Bank & Trust Co. bought a new position in shares of Uber Technologies during the second quarter valued at $1,185,000. Forefront Wealth Partners LLC grew its position in Uber Technologies by 13.9% during the 2nd quarter. Forefront Wealth Partners LLC now owns 13,399 shares of the ride-sharing company’s stock valued at $1,250,000 after purchasing an additional 1,633 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Uber Technologies during the 2nd quarter valued at about $15,510,000. Marex Group plc purchased a new position in Uber Technologies in the second quarter worth about $5,514,000. Finally, MRP Capital Investments LLC raised its holdings in Uber Technologies by 480.7% in the second quarter. MRP Capital Investments LLC now owns 11,730 shares of the ride-sharing company’s stock worth $1,094,000 after buying an additional 9,710 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent analyst reports. Susquehanna reiterated a “positive” rating and set a $110.00 price target on shares of Uber Technologies in a report on Wednesday, November 5th. Morgan Stanley cut their target price on Uber Technologies from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Guggenheim reduced their target price on Uber Technologies from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Citigroup restated a “market perform” rating on shares of Uber Technologies in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Insider Activity

In other news, insider Tony West sold 3,125 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $92.10, for a total value of $287,812.50. Following the transaction, the insider owned 174,135 shares in the company, valued at $16,037,833.50. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 267,625 shares of company stock valued at $26,774,660 in the last quarter. 3.84% of the stock is currently owned by insiders.

Uber Technologies Stock Performance

UBER stock opened at $85.13 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a market cap of $176.88 billion, a P/E ratio of 10.94 and a beta of 1.19. The stock’s fifty day moving average price is $91.78 and its 200-day moving average price is $91.78.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 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 return on equity of 68.17% and a net margin of 33.54%.Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. On average, equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies Company 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.