Principal Financial Group Inc. Increases Stake in Uber Technologies, Inc. (NYSE:UBER)

Principal Financial Group Inc. boosted its stake in Uber Technologies, Inc. (NYSE:UBER) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,460,332 shares of the ride-sharing company’s stock after purchasing an additional 162,528 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Uber Technologies worth $184,919,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after buying an additional 9,996,508 shares during the last quarter. GQG Partners LLC grew its position in Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after acquiring an additional 9,541,366 shares during the period. Allen Investment Management LLC increased its stake in Uber Technologies by 2,956.5% during the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock worth $410,995,000 after acquiring an additional 5,163,635 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after purchasing an additional 3,623,951 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after purchasing an additional 3,179,308 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.84% of the stock is owned by insiders.

Uber Technologies Trading Down 1.7 %

Shares of NYSE UBER opened at $73.12 on Friday. The company has a market cap of $153.97 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 0.74 and a beta of 1.34. The stock’s 50 day simple moving average is $75.47 and its 200 day simple moving average is $70.93. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies, Inc. has a 12-month low of $48.90 and a 12-month high of $87.00.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on UBER. KeyCorp dropped their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Raymond James assumed coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Thursday, October 31st. Loop Capital increased their price target on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday. Finally, DA Davidson boosted their price objective on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday. Six equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.32.

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.