Dai ichi Life Insurance Company Ltd Cuts Stake in Uber Technologies, Inc. (NYSE:UBER)

Dai ichi Life Insurance Company Ltd lessened its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 25.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,721 shares of the ride-sharing company’s stock after selling 22,059 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Uber Technologies were worth $4,789,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Redwood Investment Management LLC acquired a new stake in shares of Uber Technologies during the first quarter worth about $259,000. Jaffetilchin Investment Partners LLC acquired a new stake in Uber Technologies during the 1st quarter worth about $339,000. New Covenant Trust Company N.A. purchased a new position in shares of Uber Technologies during the 1st quarter valued at about $64,000. Citizens Financial Group Inc. RI lifted its holdings in shares of Uber Technologies by 23.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,602 shares of the ride-sharing company’s stock valued at $354,000 after buying an additional 885 shares during the period. Finally, Wahed Invest LLC grew its holdings in Uber Technologies by 16.6% during the first quarter. Wahed Invest LLC now owns 38,812 shares of the ride-sharing company’s stock worth $2,988,000 after acquiring an additional 5,535 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

Shares of UBER stock opened at $71.56 on Wednesday. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $87.00. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $150.68 billion, a P/E ratio of 35.60, a PEG ratio of 0.91 and a beta of 1.34. The firm has a fifty day moving average price of $75.49 and a 200 day moving average price of $71.20.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. Sell-side analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UBER shares. Jefferies Financial Group upped their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Oppenheimer increased their price target on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Roth Mkm upped their price objective on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.51.

Insider Activity

In related news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the transaction, the insider now owns 127,352 shares in the company, valued at $9,169,344. This trade represents a 23.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.80% of the company’s stock.

Uber Technologies 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.