Nordea Investment Management AB Has $506.62 Million Stock Position in Uber Technologies, Inc. $UBER

Nordea Investment Management AB grew its position in Uber Technologies, Inc. (NYSE:UBER) by 105.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,459,829 shares of the ride-sharing company’s stock after purchasing an additional 2,807,967 shares during the period. Nordea Investment Management AB’s holdings in Uber Technologies were worth $506,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UBER. Brighton Jones LLC increased its stake in shares of Uber Technologies by 3.4% in the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after buying an additional 6,129 shares during the period. Bison Wealth LLC increased its stake in shares of Uber Technologies by 20.3% in the 4th quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after buying an additional 641 shares during the period. GAMMA Investing LLC increased its stake in shares of Uber Technologies by 319.6% in the 1st quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company’s stock valued at $1,658,000 after buying an additional 17,330 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Uber Technologies by 44.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 217,196 shares of the ride-sharing company’s stock valued at $15,825,000 after buying an additional 66,783 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UBER has been the subject of several research reports. Sanford C. Bernstein lifted their target price on Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Wall Street Zen lowered Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Needham & Company LLC raised their price target on Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Guggenheim upgraded Uber Technologies to a “strong-buy” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their price target on Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $105.68.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president owned 416,222 shares in the company, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 601,821 shares of company stock valued at $58,659,491. Company insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

UBER stock opened at $92.47 on Friday. The business’s 50-day moving average price is $95.17 and its two-hundred day moving average price is $88.37. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $192.84 billion, a PE ratio of 15.75 and a beta of 1.48. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.