Uber Technologies, Inc. (NYSE:UBER) Stock Position Reduced by Korea Investment CORP

Korea Investment CORP trimmed its position in Uber Technologies, Inc. (NYSE:UBER) by 18.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,703,574 shares of the ride-sharing company’s stock after selling 383,166 shares during the period. Korea Investment CORP’s holdings in Uber Technologies were worth $102,760,000 as of its most recent filing with the Securities and Exchange Commission.

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

Uber Technologies Trading Down 1.9 %

NYSE:UBER opened at $74.18 on Thursday. The stock has a fifty day simple moving average of $73.21 and a 200 day simple moving average of $71.69. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $154.95 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth 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 released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s 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 transaction, the senior vice president now directly owns 361,908 shares in the company, valued at $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,154 shares of company stock worth $5,793,869. Corporate insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group reissued a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. DA Davidson cut their target price on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Evercore ISI lowered their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut their price objective on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup decreased their target price on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.31.

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.