Norges Bank Makes New $1.47 Billion Investment in Uber Technologies, Inc. (NYSE:UBER)

Norges Bank purchased a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 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.

Several other large investors also recently modified their holdings of the business. Welch & Forbes LLC boosted its stake in shares of Uber Technologies by 3.9% during the 4th 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 in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in 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 acquiring an additional 150 shares in the last quarter. Drive Wealth Management LLC boosted its position in Uber Technologies by 3.1% during the 4th quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock valued at $312,000 after acquiring an additional 155 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Uber Technologies by 2.4% during the 4th 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 period. Finally, Fairfield Financial Advisors LTD raised its position in shares of Uber Technologies by 34.0% in the 4th quarter. Fairfield Financial Advisors LTD now owns 670 shares of the ride-sharing company’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

Insider Activity at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by company insiders.

Uber Technologies Trading Down 1.9 %

Shares of UBER stock opened at $74.18 on Thursday. 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 company has a market cap of $154.95 billion, a price-to-earnings ratio of 16.27, 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. The firm has a fifty day moving average price of $73.21 and a 200-day moving average price of $71.69.

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, beating 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%. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on UBER shares. Wolfe Research upped their price target on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a research note on Thursday, February 6th. Truist Financial boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. DA Davidson decreased their target price on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Fox Advisors cut Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Ten investment 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. Based on data from MarketBeat.com, the stock currently has an average 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.