Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Uber Technologies, Inc. $UBER

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Uber Technologies, Inc. (NYSE:UBER) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,526 shares of the ride-sharing company’s stock after purchasing an additional 14,709 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Uber Technologies were worth $24,867,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of UBER. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth $27,000. Kozak & Associates Inc. increased its stake in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 223 shares during the last quarter. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies in the 1st quarter worth approximately $27,000. Vision Financial Markets LLC purchased a new position in Uber Technologies in the first quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in Uber Technologies by 305.1% in the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UBER shares. Raymond James Financial boosted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. Piper Sandler upped their price objective on shares of Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Stifel Nicolaus increased their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada boosted their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Tigress Financial set a $110.00 price objective on shares of Uber Technologies and gave the stock a “buy” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.06.

Uber Technologies Trading Down 4.9%

NYSE UBER opened at $93.07 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock’s 50-day simple moving average is $92.60 and its two-hundred day simple moving average is $85.02. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $99.70. The company has a market capitalization of $194.09 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.12 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. Research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the sale, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. The trade was a 20.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 348,696 shares of company stock valued at $33,243,774. Insiders own 3.84% of the company’s stock.

Uber Technologies Company 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.