Uber Technologies, Inc. (NYSE:UBER) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Posted by MarketBeat News on Oct 14th, 2023

Tokio Marine Asset Management Co. Ltd. raised its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,566 shares of the ride-sharing company’s stock after acquiring an additional 7,996 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Uber Technologies were worth $1,665,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Raleigh Capital Management Inc. grew its stake in shares of Uber Technologies by 66.5% during the 2nd quarter. Raleigh Capital Management Inc. now owns 651 shares of the ride-sharing company’s stock valued at $28,000 after buying an additional 260 shares during the period. SOA Wealth Advisors LLC. grew its stake in shares of Uber Technologies by 133.8% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 699 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 400 shares during the period. Pacifica Partners Inc. purchased a new stake in Uber Technologies during the 2nd quarter worth $34,000. Pinnacle Bancorp Inc. purchased a new stake in Uber Technologies during the 1st quarter worth $26,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position in Uber Technologies by 89.3% during the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 848 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 400 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Uber Technologies news, CFO Nelson Chai sold 100,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $45.05, for a total value of $4,505,000.00. Following the sale, the chief financial officer now directly owns 291,807 shares in the company, valued at approximately $13,145,905.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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A number of analysts recently weighed in on UBER shares. Roth Mkm upped their price target on shares of Uber Technologies from $46.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Wedbush boosted their price objective on shares of Uber Technologies from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Morgan Stanley boosted their price objective on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Finally, BTIG Research boosted their price objective on shares of Uber Technologies from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Thirty-one research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $56.00.

Read Our Latest Analysis on Uber Technologies

Uber Technologies Trading Down 5.4 %

Shares of NYSE:UBER opened at $43.49 on Friday. The stock has a market capitalization of $88.86 billion, a price-to-earnings ratio of -197.65 and a beta of 1.22. The company has a 50 day moving average price of $45.61 and a 200 day moving average price of $41.41. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.23 and a current ratio of 1.24. Uber Technologies, Inc. has a 1-year low of $23.90 and a 1-year high of $49.49.

Uber Technologies (NYSE:UBER – Get Free Report) last posted its earnings results on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.19. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.34 billion. During the same period last year, the business posted ($1.33) EPS. Uber Technologies’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts anticipate that Uber Technologies, Inc. will post 0.42 EPS for the current fiscal year.

About Uber Technologies

(Free Report)

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.

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