Resona Asset Management Co. Ltd. Purchases New Stake in Uber Technologies, Inc. (NYSE:UBER)

Resona Asset Management Co. Ltd. acquired a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 543,573 shares of the ride-sharing company’s stock, valued at approximately $32,853,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new position in shares of Uber Technologies during the 3rd quarter worth $760,000. Royal London Asset Management Ltd. boosted its stake in Uber Technologies by 3.8% during the third quarter. Royal London Asset Management Ltd. now owns 845,785 shares of the ride-sharing company’s stock worth $63,569,000 after buying an additional 31,242 shares during the period. Quarry LP increased its position in shares of Uber Technologies by 137.2% during the third quarter. Quarry LP now owns 1,499 shares of the ride-sharing company’s stock valued at $113,000 after acquiring an additional 867 shares during the last quarter. SageView Advisory Group LLC raised its stake in shares of Uber Technologies by 5.0% in the 3rd quarter. SageView Advisory Group LLC now owns 12,119 shares of the ride-sharing company’s stock valued at $911,000 after acquiring an additional 578 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Uber Technologies by 1.4% in the 3rd quarter. Stifel Financial Corp now owns 2,503,141 shares of the ride-sharing company’s stock worth $188,136,000 after acquiring an additional 34,055 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of UBER stock opened at $64.50 on Friday. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The stock’s 50-day moving average price is $73.75 and its 200 day moving average price is $71.76. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $134.92 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UBER shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. Benchmark restated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday, February 5th. Finally, DA Davidson dropped their price target on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.41.

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.