Meiji Yasuda Asset Management Co Ltd. Sells 9,938 Shares of Uber Technologies, Inc. (NYSE:UBER)

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,907 shares of the ride-sharing company’s stock after selling 9,938 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Uber Technologies were worth $4,427,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. increased its holdings in shares of Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 245 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares during the last quarter. WR Wealth Planners LLC increased its holdings in shares of Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Uber Technologies during the 1st quarter worth approximately $32,000. Finally, MCF Advisors LLC increased its holdings in shares of Uber Technologies by 1,038.5% during the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after acquiring an additional 405 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. Insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $97.00 price objective on shares of Uber Technologies in a report on Friday, September 13th. Melius initiated coverage on Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Uber Technologies in a report on Friday, September 6th. Cantor Fitzgerald initiated coverage on Uber Technologies in a report on Thursday, September 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. Finally, Evercore ISI upped their price objective on Uber Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Price Performance

Uber Technologies stock opened at $73.53 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $154.48 billion, a PE ratio of 118.60, a P/E/G ratio of 1.27 and a beta of 1.33. Uber Technologies, Inc. has a 12 month low of $40.09 and a 12 month high of $82.14. The stock has a 50-day moving average price of $69.53 and a two-hundred day moving average price of $70.79.

Uber Technologies (NYSE:UBER) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Analysts expect that Uber Technologies, Inc. will post 1.06 EPS for the current year.

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.