Uber Technologies, Inc. (NYSE:UBER) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its holdings in Uber Technologies, Inc. by 10.7% in the 1st quarter, owning approximately $262.35 million worth of 3,600,733 shares.
• Analysts have raised their price targets for Uber, with JPMorgan Chase increasing their target from $105 to $110, while Stifel Nicolaus raised theirs from $110 to $117, reflecting positive sentiment for the stock.
• Despite positive earnings results showing a net margin of 27.07% and a revenue increase of 18.2% year-over-year, CFO Prashanth Mahendra-Rajah sold shares, indicating potential insider movements in stock ownership.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,600,733 shares of the ride-sharing company's stock after purchasing an additional 349,437 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Uber Technologies worth $262,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of UBER. Noble Wealth Management PBC purchased a new position in Uber Technologies during the first quarter worth about $27,000. Kozak & Associates Inc. boosted its stake 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 buying an additional 223 shares during the period. Vision Financial Markets LLC purchased a new position in Uber Technologies during the first quarter worth about $27,000. GPS Wealth Strategies Group LLC boosted its stake 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 buying an additional 299 shares during the period. Finally, Perkins Coie Trust Co boosted its stake in Uber Technologies by 306.0% during the first quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after buying an additional 306 shares during the period. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on UBER shares. Citigroup increased their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Bank of America raised their price objective 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. Needham & Company LLC raised their price objective 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. Morgan Stanley reissued an "overweight" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. Finally, Sanford C. Bernstein raised their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.82.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies 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 transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. The trade was a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.84% of the company's stock.

Uber Technologies Stock Down 3.3%

UBER stock traded down $3.03 during midday trading on Friday, reaching $89.64. 26,183,828 shares of the company were exchanged, compared to its average volume of 18,471,660. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.11. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $97.71. The stock's 50-day simple moving average is $89.44 and its 200 day simple moving average is $81.06. The company has a market cap of $187.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results 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 business had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. On average, equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share 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.