Ilmarinen Mutual Pension Insurance Co lifted its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 20.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,000 shares of the ride-sharing company’s stock after purchasing an additional 50,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Uber Technologies were worth $9,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Uber Technologies in the 4th quarter worth approximately $580,568,000. Altimeter Capital Management LP increased its position in Uber Technologies by 167.5% during the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after acquiring an additional 19,260,000 shares during the last quarter. Davidson Kempner Capital Management LP lifted its holdings in Uber Technologies by 104.0% in the first quarter. Davidson Kempner Capital Management LP now owns 500,000 shares of the ride-sharing company’s stock valued at $15,850,000 after acquiring an additional 13,000,000 shares during the period. Point72 Asset Management L.P. boosted its position in Uber Technologies by 6,754.1% in the fourth quarter. Point72 Asset Management L.P. now owns 9,808,165 shares of the ride-sharing company’s stock worth $242,556,000 after purchasing an additional 9,955,565 shares during the last quarter. Finally, Steadfast Capital Management LP bought a new stake in shares of Uber Technologies during the 4th quarter valued at about $178,126,000. 74.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on UBER shares. The Goldman Sachs Group increased their price objective on shares of Uber Technologies from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Uber Technologies in a report on Tuesday, September 5th. Wells Fargo & Company raised their price objective on Uber Technologies from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, August 17th. Wedbush boosted their price objective on Uber Technologies from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Mizuho upped their price target on shares of Uber Technologies from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Thirty-one equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $56.00.
Insiders Place Their Bets
In other news, insider Tony West sold 16,664 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $42.00, for a total transaction of $699,888.00. Following the transaction, the insider now owns 164,693 shares of the company’s stock, valued at $6,917,106. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Tony West sold 16,664 shares of Uber Technologies stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $42.00, for a total transaction of $699,888.00. Following the completion of the sale, the insider now directly owns 164,693 shares in the company, valued at $6,917,106. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dara Khosrowshahi sold 30,025 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $45.00, for a total transaction of $1,351,125.00. Following the completion of the transaction, the chief executive officer now owns 1,485,167 shares in the company, valued at $66,832,515. The disclosure for this sale can be found here. Insiders sold a total of 316,664 shares of company stock valued at $14,455,888 over the last 90 days. Insiders own 3.84% of the company’s stock.
Uber Technologies Stock Performance
NYSE:UBER opened at $47.92 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. The stock’s fifty day moving average is $45.64 and its 200 day moving average is $39.38. The firm has a market capitalization of $97.93 billion, a PE ratio of -217.82 and a beta of 1.23. Uber Technologies, Inc. has a fifty-two week low of $22.94 and a fifty-two week high of $49.49.
Uber Technologies (NYSE:UBER – Get Free Report) last released its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.19. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.34 billion. During the same quarter last year, the business earned ($1.33) EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 0.41 earnings per share for the current year.
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.
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