ING Groep NV Purchases 300,370 Shares of Uber Technologies, Inc. (NYSE:UBER)

Key Points

• ING Groep NV increased its holdings in Uber Technologies, purchasing an additional 300,370 shares, resulting in a total of 629,707 shares valued at approximately $45.88 million.
• Several institutional investors, including Clark Capital Management Group Inc. and APG Asset Management N.V., also significantly raised their stakes in Uber Technologies, indicating strong institutional interest.
• Uber Technologies reported earnings of $0.83 per share for the last quarter, surpassing analysts' expectations and reflecting a year-over-year revenue growth of 13.8%.

ING Groep NV grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 91.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 629,707 shares of the ride-sharing company's stock after purchasing an additional 300,370 shares during the period. ING Groep NV's holdings in Uber Technologies were worth $45,880,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clark Capital Management Group Inc. raised its stake in Uber Technologies by 11,354.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after buying an additional 399,008 shares during the period. UMB Bank n.a. grew its position in shares of Uber Technologies by 33.6% in the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in Uber Technologies during the fourth quarter worth approximately $1,875,000. Finally, APG Asset Management N.V. acquired a new stake in Uber Technologies during the fourth quarter worth approximately $84,687,000. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Stock Performance

Uber Technologies stock opened at $86.98 on Monday. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.71. The company has a market cap of $181.89 billion, a PE ratio of 15.23, a P/E/G ratio of 1.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The company has a fifty day moving average price of $89.12 and a two-hundred day moving average price of $80.47.

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

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. 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. KeyCorp boosted their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wells Fargo & Company upped their price objective on Uber Technologies from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Sanford C. Bernstein increased their target price on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Roth Capital increased their price objective on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Ten research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $100.71.

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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