Coatue Management LLC Increases Stock Position in Uber Technologies Inc (NYSE:UBER)

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Coatue Management LLC boosted its position in Uber Technologies Inc (NYSE:UBER) by 94.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,100,797 shares of the ride-sharing company’s stock after buying an additional 1,020,471 shares during the period. Coatue Management LLC owned approximately 0.12% of Uber Technologies worth $65,293,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Mark Asset Management LP purchased a new position in Uber Technologies in the 2nd quarter valued at $8,427,000. Atom Investors LP purchased a new position in Uber Technologies in the 2nd quarter valued at $6,945,000. Vanguard Group Inc. grew its position in Uber Technologies by 13.9% in the 2nd quarter. Vanguard Group Inc. now owns 54,059,378 shares of the ride-sharing company’s stock valued at $1,680,165,000 after buying an additional 6,577,482 shares during the last quarter. Cipher Capital LP purchased a new position in Uber Technologies in the 2nd quarter valued at $2,226,000. Finally, Ancora Advisors LLC grew its position in Uber Technologies by 153.8% in the 2nd quarter. Ancora Advisors LLC now owns 4,125 shares of the ride-sharing company’s stock valued at $129,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors 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 dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Eckert bought 15,740 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $31.60 per share, with a total value of $497,384.00. The disclosure for this purchase can be found here. Insiders have sold 6,000 shares of company stock valued at $189,460 in the last ninety days. Company insiders own 8.66% of the company’s stock.

A number of equities research analysts have commented on the company. 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 report on Friday, August 21st. UBS Group reissued a “buy” rating and issued a $38.00 target price on shares of Uber Technologies in a report on Thursday, May 14th. Barclays raised their target price on Uber Technologies from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 7th. SunTrust Banks reissued a “buy” rating and issued a $50.00 target price on shares of Uber Technologies in a report on Tuesday, July 7th. Finally, Bank of America reissued a “buy” rating and issued a $42.00 target price on shares of Uber Technologies in a report on Thursday, June 4th. Three analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $41.73.

UBER traded down $0.17 during midday trading on Friday, hitting $33.24. The company’s stock had a trading volume of 17,288,800 shares, compared to its average volume of 22,295,802. Uber Technologies Inc has a 52-week low of $13.71 and a 52-week high of $41.86. The firm has a market cap of $58.26 billion, a P/E ratio of -8.23 and a beta of 1.19. The firm has a 50-day moving average price of $31.86 and a two-hundred day moving average price of $31.18. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported ($1.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.24). Uber Technologies had a negative return on equity of 38.83% and a negative net margin of 50.99%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous 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. On average, equities analysts expect that Uber Technologies Inc will post -3.85 EPS for the current year.

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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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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