Rakuten Securities Inc. Reduces Holdings in Uber Technologies, Inc. (NYSE:UBER)

Rakuten Securities Inc. lowered its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 77.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,713 shares of the ride-sharing company’s stock after selling 9,131 shares during the period. Rakuten Securities Inc.’s holdings in Uber Technologies were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in Uber Technologies in the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of Uber Technologies in the 4th quarter valued at $27,000. Kozak & Associates Inc. grew its holdings in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies during the 1st quarter worth about $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Uber Technologies in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UBER shares. Stifel Nicolaus initiated coverage on shares of Uber Technologies in a research note on Wednesday, June 11th. They set a “buy” rating and a $110.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. DA Davidson boosted their target price on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. KeyCorp upped their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research note on Monday, May 5th. Eleven equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.39.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider now owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now owns 21,063 shares in the company, valued at $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,384 shares of company stock valued at $3,441,071. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Up 1.4%

Shares of NYSE UBER opened at $85.10 on Tuesday. The business has a 50-day moving average of $82.60 and a two-hundred day moving average of $74.09. The company has a market capitalization of $177.95 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. Uber Technologies, Inc. has a 1 year low of $54.84 and a 1 year high of $93.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) EPS. On average, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.