Corebridge Financial Inc. Has $36.09 Million Stake in Uber Technologies, Inc. $UBER

Key Points

• Corebridge Financial Inc. reduced its stake in Uber Technologies by 4.6%, holding 495,288 shares valued at approximately $36.09 million post-sale.
• Several large investors have adjusted their positions in Uber, with notable increases in holdings by firms such as Kozak & Associates (up 155.9%) and GPS Wealth Strategies Group (up 305.1%) during the first quarter.
• Analysts have raised their price targets for Uber, with Roth Capital setting a new target of $110 and Bank of America following suit with a target of $115, reflecting overall positive sentiment on the stock.

Corebridge Financial Inc. decreased its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 495,288 shares of the ride-sharing company's stock after selling 23,733 shares during the quarter. Corebridge Financial Inc.'s holdings in Uber Technologies were worth $36,087,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UBER. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter worth $27,000. Kozak & Associates Inc. boosted its holdings in Uber Technologies by 155.9% during the first 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 acquired a new position in Uber Technologies during the first quarter worth $27,000. Vision Financial Markets LLC acquired a new position in Uber Technologies during the first quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings in Uber Technologies by 305.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Insider Activity

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer directly owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Roth Capital increased their price target on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and issued a $115.00 price target (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Bank of America increased their price target on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, Needham & Company LLC increased their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Price Performance

Shares of UBER opened at $96.7020 on Monday. The firm has a market capitalization of $201.66 billion, a PE ratio of 16.47, a PEG ratio of 1.11 and a beta of 1.43. The company's 50-day moving average is $91.08 and its 200-day moving average is $83.02. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $97.71. 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 issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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%. The company's revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current 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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