Asset Management One Co. Ltd. Boosts Holdings in Uber Technologies, Inc. $UBER

Key Points

• Asset Management One Co. Ltd. increased its stake in Uber Technologies by 10.9% in the 2nd quarter, now owning 916,930 shares worth approximately $85.55 million.
• Insiders, including CEO Dara Khosrowshahi, sold significant shares of Uber, decreasing their ownership by 20.94% and 36.82%, indicating changes in insider confidence.
• Wall Street analysts show a mixed outlook for Uber; while JPMorgan raised its price target to $110.00, Wedbush decreased its target to $84.00, reflecting varying assessments of the stock's potential.

Asset Management One Co. Ltd. raised its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 916,930 shares of the ride-sharing company's stock after purchasing an additional 90,083 shares during the period. Asset Management One Co. Ltd.'s holdings in Uber Technologies were worth $85,550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies in the first quarter worth about $27,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies in the second quarter worth about $28,000. Truvestments Capital LLC lifted its stake in shares of Uber Technologies by 498.5% in the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after buying an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Uber Technologies in the second quarter worth about $30,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Uber Technologies in the first quarter worth about $31,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 100,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at $108,010,721.28. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,946 shares of company stock worth $58,950,116 in the last 90 days. Corporate insiders own 3.84% of the company's stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wedbush decreased their price target on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley reissued an "overweight" rating and issued a $115.00 price target (up from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Roth Capital raised their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.70.

Uber Technologies Trading Up 2.6%

NYSE UBER opened at $94.57 on Friday. The firm's fifty day moving average price is $95.40 and its 200 day moving average price is $89.18. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The company has a market capitalization of $197.21 billion, a price-to-earnings ratio of 16.11 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Uber Technologies 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.

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