Korea Investment CORP Purchases 11,637 Shares of Uber Technologies, Inc. $UBER

Key Points

• Korea Investment Corp increased its stake in Uber Technologies by 0.7%, acquiring an additional 11,637 shares, which brings its total ownership to approximately $124.97 million.
• Multiple hedge funds have significantly raised their positions in Uber, with Pacer Advisors increasing theirs by 2,571.2% in the first quarter, now holding over $473 million in shares.
• Analysts have mixed opinions on Uber, with recent price target adjustments ranging from $110 to $93, while the stock currently has an average rating of "Moderate Buy" with a consensus target price of $102.82.

Korea Investment CORP raised its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,715,211 shares of the ride-sharing company's stock after acquiring an additional 11,637 shares during the period. Korea Investment CORP owned approximately 0.08% of Uber Technologies worth $124,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Uber Technologies by 2,571.2% in the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Toyota Motor Corp purchased a new position in shares of Uber Technologies in the 4th quarter valued at approximately $309,192,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Uber Technologies in the 4th quarter valued at approximately $298,644,000. Finally, Boston Partners raised its position in shares of Uber Technologies by 43.8% in the 1st quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after purchasing an additional 2,749,456 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Wells Fargo & Company dropped their price objective on shares of Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Roth Capital raised their price objective 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. JMP Securities reissued a "market perform" rating on shares of Uber Technologies in a research note on Thursday, May 15th. Finally, Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $102.82.

Insiders Place Their Bets

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm'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 sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by insiders.

Uber Technologies Trading Up 1.4%

NYSE:UBER opened at $92.64 on Monday. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The firm has a market capitalization of $193.19 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $90.19 and a 200 day simple moving average of $82.08.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the company earned $0.47 earnings per share. Uber Technologies's revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict 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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