Mitsubishi UFJ Asset Management Co. Ltd. Acquires 235,873 Shares of Uber Technologies, Inc. $UBER

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 6.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,836,606 shares of the ride-sharing company’s stock after acquiring an additional 235,873 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Uber Technologies were worth $357,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies during the first quarter valued at approximately $2,207,743,000. Kingstone Capital Partners Texas LLC grew its stake in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after buying an additional 720,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Uber Technologies by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock worth $995,801,000 after acquiring an additional 394,157 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was 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 $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares of the company’s stock, valued at $2,239,733.76. This trade represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 604,946 shares of company stock valued at $58,950,116 over the last 90 days. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

Shares of NYSE:UBER opened at $92.03 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $95.46 and a 200-day moving average price of $91.09. The company has a market cap of $191.21 billion, a price-to-earnings ratio of 11.83 and a beta of 1.46. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.Uber Technologies’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. As a group, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

UBER has been the topic of a number of research reports. Barclays lowered their price target on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 11th. TD Cowen boosted their target price on Uber Technologies from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim reduced their price target on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Cowen reissued a “buy” rating on shares of Uber Technologies in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.26.

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.