Uber Technologies, Inc. (NYSE:UBER) Shares Sold by Ilmarinen Mutual Pension Insurance Co
Posted by MarketBeat News on Nov 8th, 2023
Ilmarinen Mutual Pension Insurance Co cut its holdings in Uber Technologies, Inc. (NYSE:UBER – Free Report) by 16.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 250,000 shares of the ride-sharing company’s stock after selling 50,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Uber Technologies were worth $10,793,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its position in shares of Uber Technologies by 28.7% during the first quarter. American Century Companies Inc. now owns 23,045 shares of the ride-sharing company’s stock worth $822,000 after acquiring an additional 5,142 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $3,359,000. Panagora Asset Management Inc. boosted its position in shares of Uber Technologies by 29.3% during the first quarter. Panagora Asset Management Inc. now owns 22,650 shares of the ride-sharing company’s stock worth $808,000 after buying an additional 5,134 shares during the period. Yousif Capital Management LLC grew its holdings in Uber Technologies by 11.7% in the 1st quarter. Yousif Capital Management LLC now owns 26,298 shares of the ride-sharing company’s stock worth $938,000 after buying an additional 2,756 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Uber Technologies by 17.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,144,337 shares of the ride-sharing company’s stock valued at $40,838,000 after acquiring an additional 168,475 shares during the period. Institutional investors own 74.07% of the company’s stock.
Insider Buying and Selling
In other 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 owns 291,807 shares in the company, valued at $13,145,905.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.84% of the company’s stock.
Analysts Set New Price Targets
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Several research analysts have recently issued reports on UBER shares. JPMorgan Chase & Co. increased their price target on Uber Technologies from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of Uber Technologies in a research report on Tuesday, September 5th. Wolfe Research increased their price objective on shares of Uber Technologies from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Wedbush reiterated an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Uber Technologies in a research report on Tuesday. Finally, Bank of America raised their target price on Uber Technologies from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Thirty analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $55.84.
Read Our Latest Analysis on UBER
Uber Technologies Stock Performance
UBER opened at $49.82 on Wednesday. The stock has a 50-day moving average of $45.42 and a 200-day moving average of $42.97. 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 52-week low of $23.90 and a 52-week high of $50.27. The company has a market cap of $101.81 billion, a PE ratio of -226.81 and a beta of 1.23.
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.
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