Avestar Capital LLC acquired a new stake in Uber Technologies Inc (NYSE:UBER) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 629 shares of the ride-sharing company’s stock, valued at approximately $27,000.
A number of other hedge funds have also modified their holdings of the business. Enlightenment Research LLC purchased a new stake in Uber Technologies during the second quarter valued at about $543,000. Burleson & Company LLC bought a new position in Uber Technologies in the second quarter worth about $289,000. National Asset Management Inc. bought a new position in shares of Uber Technologies during the second quarter valued at approximately $642,000. Foundation Capital LLC bought a new position in shares of Uber Technologies during the second quarter valued at approximately $34,801,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Uber Technologies during the second quarter valued at approximately $864,000. 45.32% of the stock is currently owned by institutional investors and hedge funds.
Uber Technologies stock traded down $0.82 during midday trading on Friday, hitting $33.25. 9,206,427 shares of the stock were exchanged, compared to its average volume of 8,745,539. The stock’s 50-day moving average price is $36.41. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.36. Uber Technologies Inc has a fifty-two week low of $30.67 and a fifty-two week high of $47.08.
Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.33) by ($1.39). The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the company earned ($2.01) EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts forecast that Uber Technologies Inc will post -7.2 EPS for the current year.
Several equities research analysts recently weighed in on UBER shares. Mizuho initiated coverage on shares of Uber Technologies in a research report on Tuesday, June 4th. They set a “buy” rating and a $50.00 price target for the company. Stifel Nicolaus began coverage on shares of Uber Technologies in a report on Tuesday, July 2nd. They issued a “hold” rating and a $50.00 target price on the stock. Needham & Company LLC set a $52.00 price target on shares of Uber Technologies and gave the stock a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley decreased their price objective on shares of Uber Technologies from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday. They noted that the move was a valuation call. Finally, Canaccord Genuity started coverage on shares of Uber Technologies in a report on Tuesday, June 4th. They issued a “buy” rating and a $55.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $53.50.
Uber Technologies Profile
Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.
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