Principal Financial Group Inc. Has $184.92 Million Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Principal Financial Group Inc. raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 7.1% during the third quarter, HoldingsChannel.com reports. The firm owned 2,460,332 shares of the ride-sharing company’s stock after acquiring an additional 162,528 shares during the quarter. Principal Financial Group Inc.’s holdings in Uber Technologies were worth $184,919,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. grew its stake in shares of Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares during the period. WR Wealth Planners LLC grew its position in shares of Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 344 shares during the period. MCF Advisors LLC increased its stake in shares of Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after acquiring an additional 405 shares during the last quarter. Financial Management Professionals Inc. raised its position in shares of Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after acquiring an additional 252 shares during the period. Finally, Fairfield Financial Advisors LTD bought a new position in Uber Technologies during the 2nd quarter worth approximately $36,000. Institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America increased their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. UBS Group boosted their target price on Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI raised their price target on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Daiwa America lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.51.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Uber Technologies Trading Down 1.7 %

Uber Technologies stock opened at $60.21 on Friday. The stock has a 50-day simple moving average of $72.26 and a 200 day simple moving average of $71.22. The stock has a market capitalization of $126.78 billion, a P/E ratio of 29.96, a PEG ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share 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 business had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. Analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current 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.