Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Sumitomo Mitsui Trust Group Inc. lessened its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,804,846 shares of the ride-sharing company's stock after selling 144,529 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Uber Technologies worth $422,941,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Noble Wealth Management PBC purchased a new stake in shares of Uber Technologies during the 1st quarter valued at about $27,000. Kozak & Associates Inc. raised its stake in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of 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 valued at $29,000 after buying an additional 299 shares during the period. Perkins Coie Trust Co boosted its stake in shares of Uber Technologies by 306.0% in the 1st 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 last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. UBS Group lifted their price target on shares of Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. DA Davidson lifted their price target on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Citigroup lifted their price target 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. Finally, Fox Advisors cut shares of Uber Technologies from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, March 11th. Twelve equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.85.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction 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 transaction, the insider now owns 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 firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. This trade represents a 11.55% 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%

Shares of Uber Technologies stock traded down $1.58 during trading hours on Friday, hitting $91.54. The company's stock had a trading volume of 24,681,770 shares, compared to its average volume of 21,097,012. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $94.38. The firm has a fifty day moving average of $85.16 and a 200-day moving average of $75.20. The stock has a market cap of $191.43 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 1.18 and a beta of 1.38. 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 (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.32) EPS. Research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS 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.