DnB Asset Management AS Increases Stock Position in Uber Technologies, Inc. (NYSE:UBER)

DnB Asset Management AS grew its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 19.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 555,684 shares of the ride-sharing company’s stock after buying an additional 89,131 shares during the period. DnB Asset Management AS’s holdings in Uber Technologies were worth $33,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Welch & Forbes LLC boosted its holdings in Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after buying an additional 148 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in Uber Technologies by 3.5% during the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock worth $282,000 after purchasing an additional 150 shares in the last quarter. Drive Wealth Management LLC grew its holdings in Uber Technologies by 3.1% in the fourth quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock valued at $312,000 after purchasing an additional 155 shares during the last quarter. Institute for Wealth Management LLC. increased its position in shares of Uber Technologies by 2.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company’s stock valued at $398,000 after buying an additional 155 shares in the last quarter. Finally, Fairfield Financial Advisors LTD raised its stake in shares of Uber Technologies by 34.0% during the 4th quarter. Fairfield Financial Advisors LTD now owns 670 shares of the ride-sharing company’s stock worth $40,000 after buying an additional 170 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

NYSE:UBER opened at $72.71 on Friday. The firm has a 50-day moving average of $73.44 and a two-hundred day moving average of $71.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a market cap of $151.89 billion, a P/E ratio of 15.94, a PEG ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00.

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

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares in the company, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,154 shares of company stock worth $5,793,869 in the last ninety days. 3.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on UBER shares. Evercore ISI dropped their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. DA Davidson reduced their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, February 5th. Ten investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

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.