Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER – Free Report) by 21.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,182,418 shares of the ride-sharing company’s stock after selling 1,439,580 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Uber Technologies were worth $372,771,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of UBER. Osbon Capital Management LLC acquired a new position in Uber Technologies during the fourth quarter worth $25,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at $25,000. Portus Wealth Advisors LLC bought a new stake in shares of Uber Technologies in the 1st quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Uber Technologies in the 3rd quarter worth about $25,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Uber Technologies in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 80.24% of the company’s stock.
Uber Technologies Stock Down 0.9%
Shares of NYSE UBER opened at $73.67 on Thursday. Uber Technologies, Inc. has a 12-month low of $67.19 and a 12-month high of $101.99. The firm’s 50-day simple moving average is $72.99 and its 200 day simple moving average is $75.46. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.41. The company has a market cap of $149.96 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 6.32 and a beta of 1.12.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Wolfe Research set a $100.00 price objective on shares of Uber Technologies in a report on Friday, May 29th. Truist Financial lifted their target price on shares of Uber Technologies from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. DA Davidson reissued a “buy” rating and issued a $107.00 target price on shares of Uber Technologies in a report on Tuesday, May 26th. Finally, TD Cowen assumed coverage on Uber Technologies in a research report on Monday, May 11th. They set a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.18.
Get Our Latest Report on Uber Technologies
Uber Technologies News Summary
Here are the key news stories impacting Uber Technologies this week:
- Positive Sentiment: Analysts say gross booking strength from Mobility, Delivery, Uber One, and app upgrades could help Uber deliver strong Q2 results, supporting the stock ahead of earnings. Will Gross Booking Strength Give a Boost to Uber’s Results in Q2?
- Positive Sentiment: Wells Fargo reportedly raised its price target to $100, reinforcing bullish Wall Street sentiment on Uber. Uber Technologies Given New $100.00 Price Target at Wells Fargo & Company
- Positive Sentiment: Uber continues to receive bullish coverage on the view that it can benefit from the robotaxi rollout without bearing the heavy cost of building autonomous vehicles itself. Uber: The Robotaxi Revolution Makes Me More Bullish
- Neutral Sentiment: Waymo’s expansion into four more cities underscores rising competition in autonomous ride-hailing, which could influence how investors value Uber’s long-term mobility strategy. Waymo Widens Lead Over Tesla, Expands Robotaxis To Four New Cities
- Neutral Sentiment: Uber’s recent move to pause most Uber Eats expansion in Europe and focus on a possible Delivery Hero acquisition may improve strategic focus, but it also adds execution and regulatory uncertainty. How Investors Are Reacting To Uber Technologies Pivoting From Uber Eats Expansion To Delivery Hero Deal
- Negative Sentiment: Recent reports note Uber shares have been sliding, suggesting investors are cautious despite the bullish commentary. Uber Technologies Stock Slides as Market Rises: Facts to Know Before You Trade
About Uber Technologies
Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.
Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.
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