Kornitzer Capital Management Inc. KS Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Kornitzer Capital Management Inc. KS lowered its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 174,327 shares of the ride-sharing company’s stock after selling 7,750 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Uber Technologies were worth $10,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ascent Wealth Partners LLC acquired a new stake in Uber Technologies during the third quarter worth $2,087,000. Teachers Retirement System of The State of Kentucky grew its stake in Uber Technologies by 4.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after purchasing an additional 13,433 shares in the last quarter. Aviso Wealth Management purchased a new stake in Uber Technologies during the 3rd quarter worth about $2,302,000. Polianta Ltd purchased a new stake in Uber Technologies during the 4th quarter worth about $1,206,000. Finally, Brophy Wealth Management LLC purchased a new stake in shares of Uber Technologies in the 3rd quarter valued at about $1,041,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Up 2.5 %

Shares of NYSE UBER opened at $81.44 on Wednesday. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $87.00. The company has a market cap of $171.49 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.87 and a beta of 1.39. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $66.54 and a 200 day moving average price of $70.81.

Uber Technologies (NYSE:UBER) last announced 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%. Research analysts anticipate that Uber Technologies, Inc. will post 2.52 EPS for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Tigress Financial upped their target price on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a research note on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $90.91.

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.