KG&L Capital Management LLC Increases Stake in Uber Technologies, Inc.

KG&L Capital Management LLC has significantly increased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 106.6% during the fourth quarter, according to the latest report filed with the Securities & Exchange Commission. After acquiring an additional 10,168 shares, the fund now owns a total of 19,702 shares in the ride-sharing company. The value of KG&L Capital Management LLC's shares in Uber Technologies is estimated at $1,188,000 at the close of the last quarter.

A variety of other institutional investors and hedge funds have also made adjustments to their positions in Uber. For instance, Ascent Wealth Partners LLC acquired a new stake in Uber Technologies in the third quarter, amounting to around $2,087,000. Additionally, the Teachers Retirement System of The State of Kentucky raised its stake by 4.4% during the same period, now holding 321,726 shares valued at $24,180,000, following the purchase of 13,433 shares. Aviso Wealth Management and Polianta Ltd also secured new positions in the company, valued at approximately $2,302,000 and $1,206,000 respectively. Furthermore, Brophy Wealth Management LLC acquired a new stake worth $1,041,000 in the third quarter. Currently, institutional investors and hedge funds hold 80.24% of Uber's stock.

Latest Stock Performance of Uber Technologies

On Friday, shares of Uber Technologies (NYSE:UBER) opened at $66.86. The company reports a current ratio of 1.41 and a quick ratio of 1.41, with a debt-to-equity ratio sitting at 0.70. Uber Technologies has a market capitalization of $140.79 billion, a price-to-earnings ratio of 33.26, and a PEG ratio of 0.77. Over the past year, Uber has seen a low of $54.84 and a high of $87.00, with a 50-day moving average of $65.71 and a 200-day moving average of $70.14.

Uber Technologies recently disclosed its quarterly earnings on October 31. The company reported earnings of $1.20 per share for the quarter, surpassing analysts’ expectations of $0.41 by a significant margin of $0.79. Postal revenue reached $11.19 billion, also exceeding predictions that estimated $10.99 billion. The company's return on equity is 33.46%, coupled with a net margin of 10.49%. The quarterly revenue showed an increase of 20.4% compared to the previous year’s same quarter when the firm reported $0.10 EPS. Analysts predict that Uber Technologies, Inc. will record an earnings per share of 1.85 for the current fiscal year.

Insider Transactions

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber's stock on November 25. The shares were sold at an average price of $72.90, totaling $2,025,162. Following this transaction, Hazelbaker now owns 107,289 shares valued at approximately $7,821,368. This denotes a 20.57% reduction in their holdings. The details of the transaction have been disclosed through filings with the Securities & Exchange Commission, which can be accessed for further reference. Currently, corporate insiders hold 3.84% of Uber’s stock.

Analyst Ratings for Uber Technologies

Recent evaluations from several research firms regarding Uber Technologies have yielded various results. Citizens Jmp reduced its rating on Uber from 'strong-buy' to 'hold' on January 2. Contrarily, Gordon Haskett upgraded the stock from 'hold' to 'buy', establishing a target price of $85.00. JMP Securities maintained a 'market perform' rating, while BMO Capital Markets has reaffirmed an 'outperform' rating with a price objective of $92.00. Piper Sandler, on the other hand, adjusted their target price from $98.00 to $82.00 but retained an 'overweight' rating. Overall, seven investment analysts have issued a 'hold' rating, thirty-one suggest a 'buy', and one has qualified it as a 'strong buy'. As per MarketBeat.com, Uber Technologies holds an average rating of 'Moderate Buy' with an average target price of $91.08.

Company Overview of Uber Technologies

Uber Technologies, Inc. focuses on developing and operating proprietary technology applications across a range of regions, including North America, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. The company operates through three primary segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with various transportation options, such as ridesharing, carsharing, micromobility, rentals, public transit, and taxis, offering a variety of vehicle types, financial partnership products, and advertising services.

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