Sumitomo Life Insurance Co. Buys 4,749 Shares of Uber Technologies, Inc. (NYSE:UBER)

Sumitomo Life Insurance Co. grew its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,767 shares of the ride-sharing company's stock after buying an additional 4,749 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Uber Technologies were worth $8,945,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Clark Capital Management Group Inc. increased its stake in Uber Technologies by 11,354.8% in the 4th 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 last quarter. UMB Bank n.a. increased 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 acquiring an additional 3,073 shares during the last quarter. Revolve Wealth Partners LLC increased 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 acquiring an additional 6,129 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in Uber Technologies during the fourth quarter worth about $1,875,000. Finally, APG Asset Management N.V. acquired a new position in Uber Technologies during the fourth quarter valued at approximately $84,687,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

NYSE UBER opened at $95.36 on Monday. The firm's fifty day moving average price is $88.47 and its two-hundred day moving average price is $77.75. The stock has a market cap of $199.41 billion, a PE ratio of 16.70, a PEG ratio of 1.21 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $97.72.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus started coverage on Uber Technologies in a research report on Wednesday, June 11th. They set a "buy" rating and a $110.00 price target on the stock. Loop Capital restated a "buy" rating and set a $105.00 target price (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. The Goldman Sachs Group upped their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Finally, Barclays boosted their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Thirteen investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Uber Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $96.68.

Insider Activity

In other 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 value of $3,001,070.52. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business'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 transaction of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares in the company, valued at $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,384 shares of company stock worth $3,496,071. Company insiders own 3.70% of the company's stock.

About Uber Technologies

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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