Iat Reinsurance Co. LTD. Acquires Shares of 126,000 Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Iat Reinsurance Co. LTD. acquired 126,000 shares of Uber Technologies, valued at approximately $9.18 million, making it the 14th largest position in their portfolio.
• Over 80% of Uber's stock is currently owned by institutional investors and hedge funds, reflecting strong institutional interest in the company.
• Uber Technologies is rated as a "Moderate Buy" with an average price target of $100.26, according to recent analyses from various equities research analysts.

Iat Reinsurance Co. LTD. acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 126,000 shares of the ride-sharing company's stock, valued at approximately $9,180,000. Uber Technologies comprises 1.9% of Iat Reinsurance Co. LTD.'s holdings, making the stock its 14th largest position.

A number of other institutional investors have also recently modified their holdings of the business. Capital Research Global Investors grew its position in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Geode Capital Management LLC grew its position in shares of Uber Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock valued at $2,621,929,000 after acquiring an additional 1,061,088 shares during the period. Capital World Investors boosted its holdings in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after buying an additional 2,792,039 shares during the last quarter. Northern Trust Corp boosted its holdings in Uber Technologies by 9.0% in the 4th quarter. Northern Trust Corp now owns 18,520,516 shares of the ride-sharing company's stock worth $1,117,158,000 after buying an additional 1,528,168 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Uber Technologies by 13.4% in the 4th quarter. Schroder Investment Management Group now owns 7,272,915 shares of the ride-sharing company's stock worth $438,702,000 after buying an additional 860,257 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Needham & Company LLC set a $109.00 price objective on Uber Technologies and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen upgraded Uber Technologies from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Raymond James Financial cut Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. Roth Capital lifted their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Ten research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.26.

Uber Technologies Stock Up 0.5%

Uber Technologies stock opened at $91.31 on Friday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $97.71. The stock's fifty day simple moving average is $89.29 and its 200-day simple moving average is $79.51. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $190.94 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.05 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The company's revenue was up 13.8% on a year-over-year basis. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value 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. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock worth $3,496,071 in the last three months. 3.84% of the stock is currently owned by corporate insiders.

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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