Norinchukin Bank The Boosts Position in Uber Technologies, Inc. $UBER

Key Points

• Norinchukin Bank increased its stake in Uber Technologies, Inc. by 18.4%, owning 139,690 shares valued at approximately $10.18 million after purchasing additional shares in Q1.
• Several analysts have raised their price targets for Uber, with JPMorgan and Bank of America setting targets of $110 and $115 respectively, reflecting a positive outlook on the stock.
• Uber reported strong earnings with a Q2 EPS of $0.63, surpassing estimates, and an 18.2% increase in revenue year-over-year, totaling $12.65 billion.

Norinchukin Bank The raised its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 18.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 139,690 shares of the ride-sharing company's stock after purchasing an additional 21,728 shares during the period. Norinchukin Bank The's holdings in Uber Technologies were worth $10,178,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of Uber Technologies by 3.4% in the fourth 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 last quarter. Revolve Wealth Partners LLC raised its holdings 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 worth $939,000 after acquiring an additional 6,129 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Uber Technologies during the fourth quarter valued at $395,000. Jump Financial LLC purchased a new stake in Uber Technologies during the 4th quarter worth about $618,000. Finally, Dimensional Fund Advisors LP raised its stake in Uber Technologies by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,483 shares of the ride-sharing company's stock valued at $178,460,000 after purchasing an additional 87,036 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Bank of America raised their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Roth Capital boosted their price target on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company lowered their price target on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Loop Capital reiterated a "buy" rating and set a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $102.82.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.84% of the company's stock.

Uber Technologies Trading Down 1.7%

NYSE UBER opened at $93.7460 on Thursday. The firm has a market capitalization of $195.50 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $97.71. The company's 50 day moving average price is $90.65 and its 200 day moving average price is $82.44.

Uber Technologies (NYSE:UBER - Get Free Report) last issued 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 the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Uber Technologies Company 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.