CIBC Asset Management Inc Has $22.96 Million Stake in Uber Technologies, Inc. (NYSE:UBER)

CIBC Asset Management Inc increased its position in Uber Technologies, Inc. (NYSE:UBER) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 305,415 shares of the ride-sharing company’s stock after acquiring an additional 24,560 shares during the quarter. CIBC Asset Management Inc’s holdings in Uber Technologies were worth $22,955,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Capital Research Global Investors raised its position in shares of Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after acquiring an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after purchasing an additional 9,996,508 shares during the period. GQG Partners LLC increased its position in shares of Uber Technologies by 74.1% during the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after buying an additional 9,541,366 shares during the period. Legal & General Group Plc raised its stake in Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Uber Technologies by 9.6% in the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock valued at $889,956,000 after buying an additional 1,076,876 shares during the period. Institutional investors own 80.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UBER. JMP Securities lifted their target price on Uber Technologies from $80.00 to $95.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Royal Bank of Canada upped their target price on Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. DA Davidson lifted their price target on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. UBS Group boosted their price target on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Price Performance

UBER stock opened at $73.26 on Friday. The firm has a 50 day moving average of $75.40 and a 200-day moving average of $71.01. 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 firm has a market capitalization of $154.26 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. Uber Technologies, Inc. has a 12 month low of $53.15 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction dated 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 completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. The trade was a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is owned by insiders.

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.