Norges Bank Makes New Investment in Uber Technologies, Inc. (NYSE:UBER)

Norges Bank bought a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 24,332,793 shares of the ride-sharing company's stock, valued at approximately $1,467,754,000. Norges Bank owned 1.16% of Uber Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avion Wealth raised its position in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Uber Technologies in the 4th quarter valued at $28,000. GHP Investment Advisors Inc. increased its stake in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 223 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Uber Technologies during the 4th quarter worth $33,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth $35,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Uber Technologies Stock Down 2.9 %

NYSE:UBER traded down $2.15 during trading hours on Friday, reaching $72.71. The company had a trading volume of 11,255,568 shares, compared to its average volume of 20,097,389. The business's 50-day simple moving average is $73.44 and its two-hundred day simple moving average is $71.75. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The firm has a market cap of $152.09 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

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Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts' consensus estimates 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, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now owns 114,241 shares in the company, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 over the last quarter. 3.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UBER shares. Wolfe Research lifted their target price on Uber Technologies from $90.00 to $92.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Piper Sandler reiterated an "overweight" rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, February 6th. Citizens Jmp cut shares of Uber Technologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, Fox Advisors cut Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and an average price target of $90.31.

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.