Sumitomo Mitsui Trust Group Inc. Raises Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,752,471 shares of the ride-sharing company’s stock after purchasing an additional 512,591 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Uber Technologies were worth $432,356,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its stake in shares of Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares during the period. WR Wealth Planners LLC increased its holdings in Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 344 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Uber Technologies in the first quarter worth approximately $32,000. MCF Advisors LLC boosted its stake in shares of Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 405 shares during the last quarter. Finally, Founders Capital Management bought a new stake in shares of Uber Technologies during the 2nd quarter valued at $33,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on UBER shares. TD Cowen raised their target price on Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Daiwa America downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Wells Fargo & Company decreased their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Oppenheimer upped their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $90.32.

Uber Technologies Trading Down 0.5 %

Shares of UBER opened at $71.65 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $150.87 billion, a P/E ratio of 35.65, a P/E/G ratio of 0.72 and a beta of 1.34. Uber Technologies, Inc. has a twelve month low of $50.72 and a twelve month high of $87.00. The company’s fifty day simple moving average is $75.45 and its 200-day simple moving average is $70.97.

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

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.