Sumitomo Life Insurance Co. Grows Position in Uber Technologies, Inc. (NYSE:UBER)

Sumitomo Life Insurance Co. lifted its holdings in Uber Technologies, Inc. (NYSE:UBER) by 26.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,271 shares of the ride-sharing company’s stock after buying an additional 22,771 shares during the period. Sumitomo Life Insurance Co.’s holdings in Uber Technologies were worth $8,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UBER. Integrated Advisors Network LLC increased its stake in shares of Uber Technologies by 18.6% in the 4th quarter. Integrated Advisors Network LLC now owns 10,375 shares of the ride-sharing company’s stock worth $639,000 after acquiring an additional 1,629 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Uber Technologies during the fourth quarter worth about $84,000. Moseley Investment Management Inc. purchased a new position in Uber Technologies during the first quarter worth about $204,000. GAMMA Investing LLC boosted its holdings in Uber Technologies by 96.9% in the 1st quarter. GAMMA Investing LLC now owns 6,748 shares of the ride-sharing company’s stock valued at $520,000 after purchasing an additional 3,321 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $204,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Monday, October 7th. Citigroup boosted their price objective on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Truist Financial upped their target price on shares of Uber Technologies from $88.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, Piper Sandler boosted their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.11.

Insider Activity

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Down 1.1 %

NYSE UBER traded down $0.94 during trading on Wednesday, reaching $82.26. 1,614,467 shares of the company’s stock were exchanged, compared to its average volume of 17,964,277. Uber Technologies, Inc. has a 1 year low of $40.09 and a 1 year high of $87.00. The stock has a market cap of $171.88 billion, a P/E ratio of 134.26, a price-to-earnings-growth ratio of 1.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50 day moving average price of $73.54 and a two-hundred day moving average price of $70.55.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 1.08 EPS for the current fiscal 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.