Mitsubishi UFJ Trust & Banking Corp Acquires 453,702 Shares of Uber Technologies, Inc. $UBER

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Uber Technologies, Inc. (NYSE:UBER) by 54.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,283,251 shares of the ride-sharing company’s stock after purchasing an additional 453,702 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Uber Technologies were worth $119,727,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vision Financial Markets LLC bought a new position in Uber Technologies in the first quarter valued at about $27,000. West Oak Capital LLC bought a new position in shares of Uber Technologies in the second quarter worth about $28,000. Truvestments Capital LLC boosted its stake in shares of Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $30,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Uber Technologies during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wedbush dropped their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Piper Sandler set a $107.00 price target on shares of Uber Technologies in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a report on Wednesday, October 29th. BMO Capital Markets reduced their price objective on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Stock Down 0.5%

Shares of NYSE:UBER opened at $93.59 on Wednesday. The firm has a market cap of $194.47 billion, a P/E ratio of 12.03 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. The business has a fifty day simple moving average of $95.48 and a 200 day simple moving average of $91.55. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

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

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total value of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at approximately $2,239,733.76. The trade was a 10.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the sale, the senior vice president owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 604,946 shares of company stock valued at $58,950,116 over the last three months. Insiders own 3.70% of the company’s stock.

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.