Sumitomo Mitsui Trust Group Inc. Buys 196,904 Shares of Uber Technologies, Inc. (NYSE:UBER)

Sumitomo Mitsui Trust Group Inc. raised its stake in Uber Technologies, Inc. (NYSE:UBER) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,949,375 shares of the ride-sharing company’s stock after buying an additional 196,904 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Uber Technologies worth $358,866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new position in shares of Uber Technologies during the 3rd quarter valued at about $163,468,000. Mather Group LLC. grew its position in Uber Technologies by 123.1% during the third quarter. Mather Group LLC. now owns 5,357 shares of the ride-sharing company’s stock valued at $403,000 after acquiring an additional 2,956 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Uber Technologies by 5.4% during the third quarter. Dynamic Advisor Solutions LLC now owns 14,853 shares of the ride-sharing company’s stock worth $1,116,000 after acquiring an additional 764 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Uber Technologies by 58.4% in the 3rd quarter. Artemis Investment Management LLP now owns 107,492 shares of the ride-sharing company’s stock worth $8,079,000 after acquiring an additional 39,619 shares during the last quarter. Finally, Sovereign Financial Group Inc. boosted its stake in shares of Uber Technologies by 12.6% in the 3rd quarter. Sovereign Financial Group Inc. now owns 3,318 shares of the ride-sharing company’s stock valued at $249,000 after purchasing an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday. Finally, UBS Group dropped their price objective on Uber Technologies from $114.00 to $107.00 and set a “buy” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.19.

Uber Technologies Stock Up 8.6 %

NYSE:UBER opened at $70.04 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $147.47 billion, a P/E ratio of 34.84, a P/E/G ratio of 0.77 and a beta of 1.39. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The firm has a 50-day simple moving average of $65.31 and a two-hundred day simple moving average of $70.07.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

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.