Nordea Investment Management AB Acquires 2,807,967 Shares of Uber Technologies, Inc. $UBER

Key Points

• Nordea Investment Management AB increased its stake in Uber Technologies by 105.9% during the 2nd quarter, acquiring an additional 2,807,967 shares, bringing their total ownership to approximately $506.6 million worth of Uber stock.
• CEO Dara Khosrowshahi sold 150,000 shares of Uber for around $15 million, resulting in a 13.24% decrease in his ownership of the company.
• Analysts have recently adjusted price targets for Uber, with JPMorgan raising it to $110.00 and Royal Bank of Canada to $100.00, reflecting a generally optimistic outlook despite varying ratings among the analysts.

Nordea Investment Management AB boosted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 105.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,459,829 shares of the ride-sharing company's stock after purchasing an additional 2,807,967 shares during the quarter. Nordea Investment Management AB owned about 0.26% of Uber Technologies worth $506,618,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in UBER. Brighton Jones LLC boosted its stake in Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock valued at $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC raised its holdings in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares in the last quarter. Bison Wealth LLC raised its holdings in Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after acquiring an additional 641 shares in the last quarter. GAMMA Investing LLC raised its holdings in Uber Technologies by 319.6% in the 1st quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company's stock valued at $1,658,000 after acquiring an additional 17,330 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Uber Technologies by 44.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company's stock valued at $15,825,000 after acquiring an additional 66,783 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares of the company's stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the sale, the chief financial officer directly owned 22,528 shares of the company's stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 601,821 shares of company stock worth $58,659,491. 3.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Royal Bank Of Canada upped their price target on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wedbush cut their price target on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.68.

Uber Technologies Trading Down 2.2%

Shares of UBER opened at $92.47 on Friday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $95.17 and a 200-day simple moving average of $88.37. The stock has a market cap of $192.84 billion, a PE ratio of 15.75 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last issued 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 business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same period in the prior year, the firm posted $0.47 EPS. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.