Mirae Asset Global Investments Co. Ltd. Has $31.84 Million Position in Uber Technologies, Inc. $UBER

Mirae Asset Global Investments Co. Ltd. reduced its stake in Uber Technologies, Inc. (NYSE:UBER) by 3.4% during the second quarter, HoldingsChannel reports. The firm owned 341,270 shares of the ride-sharing company’s stock after selling 12,040 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Uber Technologies were worth $31,840,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UBER. Kozak & Associates Inc. boosted its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. West Oak Capital LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at approximately $28,000. Finally, GPS Wealth Strategies Group LLC boosted its position in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 299 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on UBER. Barclays reiterated an “overweight” rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a research report on Thursday, August 7th. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research report on Thursday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $106.00 target price (up from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. BMO Capital Markets lifted their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, KeyCorp lifted their target price on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.03.

Uber Technologies Stock Down 0.1%

Uber Technologies stock opened at $96.53 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The firm has a 50 day moving average price of $93.93 and a two-hundred day moving average price of $87.04. The firm has a market cap of $201.30 billion, a price-to-earnings ratio of 16.44 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the business earned $0.47 EPS. The company’s revenue was up 18.2% compared to the same quarter last year. Equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 300,000 shares of Uber Technologies stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the sale, the chief executive officer owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares of the company’s stock, valued at $17,220,992.04. This represents a 36.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 604,571 shares of company stock worth $58,920,741. 3.84% of the stock is owned by insiders.

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.