Atom Investors LP bought a new position in Uber Technologies Inc (NYSE:UBER) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 223,442 shares of the ride-sharing company’s stock, valued at approximately $6,945,000.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Uber Technologies by 13.9% during the second quarter. Vanguard Group Inc. now owns 54,059,378 shares of the ride-sharing company’s stock worth $1,680,165,000 after acquiring an additional 6,577,482 shares during the period. Cipher Capital LP acquired a new stake in Uber Technologies in the 2nd quarter worth $2,226,000. Ancora Advisors LLC increased its holdings in shares of Uber Technologies by 153.8% during the 2nd quarter. Ancora Advisors LLC now owns 4,125 shares of the ride-sharing company’s stock worth $129,000 after purchasing an additional 2,500 shares during the period. Shannon River Fund Management LLC acquired a new position in shares of Uber Technologies during the second quarter valued at about $13,754,000. Finally, APG Asset Management N.V. lifted its stake in shares of Uber Technologies by 133.7% in the second quarter. APG Asset Management N.V. now owns 605,099 shares of the ride-sharing company’s stock valued at $16,744,000 after buying an additional 346,199 shares during the period. Institutional investors and hedge funds own 67.75% of the company’s stock.
In related news, insider Tony West sold 2,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $30.40, for a total transaction of $60,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Eckert bought 15,740 shares of Uber Technologies stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $31.60 per share, for a total transaction of $497,384.00. The disclosure for this purchase can be found here. Insiders sold a total of 6,000 shares of company stock worth $189,460 over the last quarter. 8.66% of the stock is currently owned by corporate insiders.
Shares of UBER stock traded down $0.17 during trading hours on Friday, reaching $33.24. The company had a trading volume of 17,288,800 shares, compared to its average volume of 22,295,802. Uber Technologies Inc has a 1-year low of $13.71 and a 1-year high of $41.86. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market cap of $58.26 billion, a price-to-earnings ratio of -8.23 and a beta of 1.19. The company has a 50 day moving average of $31.86 and a 200 day moving average of $31.18.
Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, August 6th. The ride-sharing company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.24). Uber Technologies had a negative net margin of 50.99% and a negative return on equity of 38.83%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted ($4.72) EPS. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Uber Technologies Inc will post -3.85 EPS for the current fiscal year.
Several equities analysts have commented on the company. Guggenheim upped their price target on Uber Technologies from $37.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 10th. Daiwa Capital Markets raised Uber Technologies from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Friday, August 21st. Wedbush decreased their price target on shares of Uber Technologies from $47.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Royal Bank of Canada increased their price objective on shares of Uber Technologies from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Piper Sandler reiterated a “hold” rating on shares of Uber Technologies in a research report on Wednesday, June 17th. Three analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.73.
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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