Resona Asset Management Co. Ltd. Invests $32.85 Million in Uber Technologies, Inc. (NYSE:UBER)

Resona Asset Management Co. Ltd. acquired a new stake in Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, Holdings Channel reports. The firm acquired 543,573 shares of the ride-sharing company’s stock, valued at approximately $32,853,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBER. Teachers Retirement System of The State of Kentucky increased its position in shares of Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after buying an additional 13,433 shares in the last quarter. Polianta Ltd purchased a new position in Uber Technologies during the 4th quarter valued at about $1,206,000. Allworth Financial LP lifted its holdings in shares of Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Uber Technologies in the third quarter valued at about $1,041,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Uber Technologies in the fourth quarter valued at approximately $3,188,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of analyst reports. Evercore ISI lowered their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. DA Davidson lowered their target price 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. Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a research report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average target price of $90.41.

Uber Technologies Stock Performance

Shares of UBER stock opened at $64.50 on Friday. The company’s fifty day moving average price is $73.75 and its two-hundred day moving average price is $71.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm has a market capitalization of $134.92 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 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%. On average, research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is currently owned by corporate insiders.

About Uber Technologies

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.