Nordea Investment Management AB Sells 962,023 Shares of Uber Technologies, Inc. $UBER

Nordea Investment Management AB lessened its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 17.6% in the third quarter, HoldingsChannel reports. The fund owned 4,497,806 shares of the ride-sharing company’s stock after selling 962,023 shares during the period. Nordea Investment Management AB’s holdings in Uber Technologies were worth $436,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in UBER. Harbor Investment Advisory LLC lifted its holdings in Uber Technologies by 1.9% during the 3rd quarter. Harbor Investment Advisory LLC now owns 38,504 shares of the ride-sharing company’s stock worth $3,772,000 after purchasing an additional 702 shares during the last quarter. N.E.W. Advisory Services LLC increased its position in Uber Technologies by 5.3% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,352 shares of the ride-sharing company’s stock worth $230,000 after buying an additional 118 shares during the period. New Republic Capital LLC lifted its holdings in shares of Uber Technologies by 19.1% during the third quarter. New Republic Capital LLC now owns 3,251 shares of the ride-sharing company’s stock worth $318,000 after buying an additional 521 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Uber Technologies by 7.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,644 shares of the ride-sharing company’s stock valued at $6,529,000 after acquiring an additional 4,889 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Uber Technologies by 17.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,275,479 shares of the ride-sharing company’s stock valued at $712,779,000 after acquiring an additional 1,077,303 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Down 1.0%

Shares of NYSE UBER opened at $84.63 on Tuesday. The company has a market cap of $175.84 billion, a price-to-earnings ratio of 10.88 and a beta of 1.20. 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, Inc. has a 12 month low of $60.63 and a 12 month high of $101.99. The stock has a 50-day moving average price of $86.25 and a two-hundred day moving average price of $91.29.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. As a group, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on UBER shares. Arete Research set a $125.00 price objective on shares of Uber Technologies and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Truist Financial increased their price target on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Mizuho assumed coverage on Uber Technologies in a research note on Monday, September 29th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $107.14.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 3,125 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $80.36, for a total value of $251,125.00. Following the completion of the transaction, the insider owned 175,423 shares of the company’s stock, valued at $14,096,992.28. This represents a 1.75% 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 stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the transaction, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,875 shares of company stock worth $1,348,818 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Uber Technologies Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.