Comerica Bank bought a new position in shares of Uber Technologies Inc (NYSE:UBER) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,454 shares of the ride-sharing company’s stock, valued at approximately $587,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UBER. Legacy Advisors LLC acquired a new position in shares of Uber Technologies during the 2nd quarter worth about $26,000. Sound Income Strategies LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $28,000. Signaturefd LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $31,000. Regal Wealth Group Inc. purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $32,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter valued at about $36,000. 45.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Uber Technologies stock traded down $0.82 during trading hours on Friday, reaching $33.25. 9,206,427 shares of the company’s stock were exchanged, compared to its average volume of 8,745,539. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $36.41. Uber Technologies Inc has a 52-week low of $30.67 and a 52-week high of $47.08.
Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share for the quarter, missing the consensus estimate of ($3.33) by ($1.39). The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned ($2.01) earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts anticipate that Uber Technologies Inc will post -7.2 EPS for the current year.
Several analysts have commented on the company. Barclays assumed coverage on Uber Technologies in a research note on Tuesday, June 4th. They set an “overweight” rating and a $50.00 price objective for the company. Daiwa Capital Markets assumed coverage on Uber Technologies in a research note on Tuesday, June 25th. They set a “neutral” rating for the company. Bank of America assumed coverage on Uber Technologies in a research note on Tuesday, June 4th. They set a “buy” rating and a $53.00 price objective for the company. Oppenheimer set a $55.00 price objective on Uber Technologies and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, BTIG Research initiated coverage on Uber Technologies in a research report on Tuesday, June 4th. They set a “buy” rating and a $80.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $53.50.
Uber Technologies Company 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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