Sumitomo Life Insurance Co. Boosts Stock Position in Uber Technologies, Inc. $UBER

Sumitomo Life Insurance Co. raised its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 8.5% during the 2nd quarter, Holdings Channel reports. The firm owned 133,160 shares of the ride-sharing company’s stock after buying an additional 10,393 shares during the quarter. Uber Technologies comprises 0.8% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 22nd largest holding. Sumitomo Life Insurance Co.’s holdings in Uber Technologies were worth $12,424,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in Uber Technologies in the 2nd quarter worth about $96,000. Teacher Retirement System of Texas raised its holdings in Uber Technologies by 50.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 548,051 shares of the ride-sharing company’s stock worth $51,133,000 after purchasing an additional 183,085 shares during the period. Geneos Wealth Management Inc. raised its holdings in Uber Technologies by 805.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock worth $7,483,000 after purchasing an additional 91,362 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in Uber Technologies by 42.7% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company’s stock worth $70,822,000 after purchasing an additional 226,960 shares during the period. Finally, Kapstone Financial Advisors LLC acquired a new position in Uber Technologies in the 2nd quarter worth about $415,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 3,125 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $93.00, for a total value of $290,625.00. Following the completion of the sale, the insider owned 172,846 shares of the company’s stock, valued at approximately $16,074,678. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 604,946 shares of company stock valued at $58,950,116. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Price Performance

NYSE:UBER opened at $96.71 on Friday. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $201.68 billion, a PE ratio of 16.48 and a beta of 1.48. The stock has a 50 day moving average price of $95.56 and a 200 day moving average price of $90.50.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating 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 firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on UBER shares. Barclays reaffirmed 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. Guggenheim raised Uber Technologies to a “strong-buy” rating in a report on Wednesday, October 15th. Roth Capital upped their price target on Uber Technologies from $93.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Finally, BMO Capital Markets increased their target price on Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.82.

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.