Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Uber Technologies, Inc. (NYSE:UBER – Get Rating) by 15.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,142 shares of the ride-sharing company's stock after purchasing an additional 12,718 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Uber Technologies were worth $1,906,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. MCF Advisors LLC acquired a new stake in Uber Technologies in the 1st quarter valued at $27,000. Core Alternative Capital grew its position in Uber Technologies by 3,079.2% in the 1st quarter. Core Alternative Capital now owns 763 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 739 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in Uber Technologies in the 1st quarter valued at $32,000. Northern Oak Wealth Management Inc. bought a new position in Uber Technologies during the 4th quarter valued at $34,000. Finally, Dravo Bay LLC bought a new position in Uber Technologies during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 71.57% of the company's stock.
Get Uber Technologies alerts:Uber Technologies Trading Down 6.2 %
NYSE UBER opened at $28.58 on Friday. The company's 50 day moving average is $28.77 and its 200-day moving average is $27.82. Uber Technologies, Inc. has a 12-month low of $19.90 and a 12-month high of $48.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.98.
Uber Technologies (NYSE:UBER – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The ride-sharing company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.25) by ($1.08). The firm had revenue of $8.08 billion for the quarter, compared to analysts' expectations of $7.37 billion. Uber Technologies had a negative net margin of 39.39% and a negative return on equity of 69.83%. Uber Technologies's revenue was up 105.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. Equities research analysts predict that Uber Technologies, Inc. will post -4.66 earnings per share for the current year.Insider Activity at Uber Technologies
In related news, insider Tony West sold 4,167 shares of the business's stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $32.00, for a total transaction of $133,344.00. Following the completion of the transaction, the insider now owns 142,593 shares of the company's stock, valued at $4,562,976. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.06% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on UBER. KeyCorp began coverage on Uber Technologies in a research note on Tuesday, July 12th. They set a "sector weight" rating on the stock. Wedbush restated an "outperform" rating and set a $38.00 price objective on shares of Uber Technologies in a research note on Wednesday, June 29th. Atlantic Securities raised their price objective on Uber Technologies to $40.00 in a research note on Monday, August 22nd. Susquehanna Bancshares raised their price objective on Uber Technologies from $29.00 to $32.00 in a research note on Wednesday, August 3rd. Finally, MKM Partners dropped their price objective on Uber Technologies from $41.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.45.
Uber Technologies Profile
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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.
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