Independence Bank of Kentucky Sells 1,052 Shares of Uber Technologies, Inc. (NYSE:UBER)

Independence Bank of Kentucky reduced its position in Uber Technologies, Inc. (NYSE:UBER) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,950 shares of the ride-sharing company’s stock after selling 1,052 shares during the quarter. Independence Bank of Kentucky’s holdings in Uber Technologies were worth $1,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors raised its stake in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares in the last quarter. Norges Bank acquired a new stake in shares of Uber Technologies in the fourth quarter valued at $1,467,754,000. Boston Partners acquired a new stake in shares of Uber Technologies in the fourth quarter valued at $381,057,000. Toyota Motor Corp acquired a new stake in Uber Technologies in the fourth quarter worth about $309,192,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Uber Technologies in the fourth quarter worth about $298,644,000. 80.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UBER shares. Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Arete Research raised Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. KeyCorp upped their price objective on Uber Technologies from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Bank of America upped their price objective on Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Wedbush downgraded Uber Technologies from an “outperform” rating to a “neutral” rating and upped their target price for the company from $80.00 to $85.00 in a research report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $93.91.

Uber Technologies Trading Up 1.1%

NYSE UBER opened at $85.60 on Friday. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $93.60. The stock has a market cap of $179.00 billion, a P/E ratio of 18.77, a P/E/G ratio of 0.89 and a beta of 1.38. The stock’s fifty day moving average price is $80.38 and its 200-day moving average price is $73.46. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) earnings per share. As a group, equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction dated 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 sale, the insider now owns 102,135 shares of the company’s stock, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,788 shares of company stock valued at $6,517,070. 3.84% of the stock is owned by company insiders.

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.