Uber Technologies, Inc. $UBER Position Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in Uber Technologies, Inc. (NYSE:UBER) by 95.6% during the second quarter, HoldingsChannel.com reports. The fund owned 2,416,601 shares of the ride-sharing company’s stock after selling 52,115,210 shares during the period. The Manufacturers Life Insurance Company’s holdings in Uber Technologies were worth $225,464,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of UBER. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies in the 1st quarter worth approximately $2,207,743,000. Norges Bank acquired a new stake in Uber Technologies during the 2nd quarter valued at $2,348,319,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after purchasing an additional 3,025,483 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Uber Technologies by 105.9% in the second quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after buying an additional 2,807,967 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony West sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the sale, the insider directly owned 174,135 shares of the company’s stock, valued at $16,037,833.50. The trade was a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 567,625 shares of company stock valued at $55,385,660 over the last quarter. Insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on UBER. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a research note on Monday. Truist Financial raised their price target on shares of Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Cantor Fitzgerald boosted their price objective on shares of Uber Technologies from $107.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Finally, Susquehanna reiterated a “positive” rating and issued a $110.00 target price on shares of Uber Technologies in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Uber Technologies Stock Performance

Shares of UBER opened at $84.14 on Thursday. The firm has a market cap of $174.84 billion, a price-to-earnings ratio of 10.82 and a beta of 1.19. The company’s fifty day moving average is $92.23 and its 200-day moving average is $91.82. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. Uber Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.