Bank of Hawaii Cuts Stake in Uber Technologies, Inc. (NYSE:UBER)

Bank of Hawaii lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 85.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,040 shares of the ride-sharing company’s stock after selling 17,462 shares during the period. Bank of Hawaii’s holdings in Uber Technologies were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in UBER. Edgewood Management LLC increased its position in shares of Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Legal & General Group Plc grew its stake in Uber Technologies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Uber Technologies by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after purchasing an additional 1,601,747 shares during the period. Clearbridge Investments LLC raised its stake in shares of Uber Technologies by 9.6% in the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock worth $889,956,000 after purchasing an additional 1,076,876 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after purchasing an additional 3,179,308 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insider Activity

In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Uber Technologies Stock Performance

NYSE:UBER opened at $73.43 on Tuesday. The company’s 50-day moving average is $75.51 and its two-hundred day moving average is $71.16. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $154.62 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 0.92 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. Analysts forecast that Uber Technologies, Inc. will post 1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UBER shares. DA Davidson increased their price target on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Tigress Financial boosted their price objective on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.51.

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.