Uber Technologies, Inc. $UBER Holdings Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Uber Technologies by 5.8%, owning a total of 266,526 shares valued at approximately $24.87 million after recent purchases.
• Analysts predict positive growth for Uber, with target price increases from firms like Raymond James and Piper Sandler, leading to a consensus rating of "Moderate Buy" and an average target price of $103.06.
• Insider activity includes CEO Dara Khosrowshahi selling 300,000 shares valued at around $28.61 million, resulting in a 20.94% reduction of his position.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,526 shares of the ride-sharing company's stock after buying an additional 14,709 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Uber Technologies were worth $24,867,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies during the 4th quarter worth about $27,000. Kozak & Associates Inc. increased its position in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after purchasing an additional 223 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the 1st quarter worth about $27,000. Vision Financial Markets LLC purchased a new stake in Uber Technologies during the 1st quarter worth about $27,000. Finally, GPS Wealth Strategies Group LLC increased its position in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after purchasing an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Up 1.8%

UBER stock traded up $1.64 during midday trading on Thursday, hitting $94.59. 23,058,224 shares of the company's stock were exchanged, compared to its average volume of 15,854,189. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $99.70. The firm has a 50 day moving average price of $92.56 and a 200-day moving average price of $85.15. The stock has a market capitalization of $197.26 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the business earned $0.47 EPS. Uber Technologies's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on UBER. Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Stifel Nicolaus lifted their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Barclays restated an "overweight" rating and issued a $110.00 price target (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Canaccord Genuity Group restated a "hold" rating and issued a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Finally, Roth Capital lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Insider Activity

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 348,696 shares of company stock worth $33,243,774 over the last 90 days. Insiders own 3.84% 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.