Sciencast Management LP purchased a new position in Uber Technologies Inc (NYSE:UBER) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,427 shares of the ride-sharing company’s stock, valued at approximately $569,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Morgan Stanley lifted its position in Uber Technologies by 46.5% during the 1st quarter. Morgan Stanley now owns 78,273,681 shares of the ride-sharing company’s stock worth $2,185,401,000 after acquiring an additional 24,836,270 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Uber Technologies by 10.8% in the first quarter. Wellington Management Group LLP now owns 34,010,586 shares of the ride-sharing company’s stock valued at $949,576,000 after buying an additional 3,308,449 shares during the period. Jennison Associates LLC lifted its holdings in Uber Technologies by 222.5% in the first quarter. Jennison Associates LLC now owns 31,174,193 shares of the ride-sharing company’s stock valued at $870,383,000 after buying an additional 21,507,161 shares during the period. Sands Capital Management LLC acquired a new position in Uber Technologies in the first quarter valued at approximately $584,551,000. Finally, Clearbridge Investments LLC lifted its holdings in Uber Technologies by 14.4% in the first quarter. Clearbridge Investments LLC now owns 16,190,894 shares of the ride-sharing company’s stock valued at $452,050,000 after buying an additional 2,037,197 shares during the period. Hedge funds and other institutional investors own 62.87% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Uber Technologies in a research report on Wednesday, July 22nd. They set a “market perform” rating for the company. Sanford C. Bernstein reiterated a “buy” rating and issued a $35.00 price objective on shares of Uber Technologies in a research note on Thursday, June 11th. Needham & Company LLC lifted their price objective on shares of Uber Technologies from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. JMP Securities lifted their price objective on shares of Uber Technologies from $37.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 7th. Finally, Wedbush reiterated a “buy” rating and issued a $38.00 price objective on shares of Uber Technologies in a research note on Friday, May 15th. Three investment analysts have rated the stock with a hold rating and thirty-six have given a buy rating to the stock. Uber Technologies presently has an average rating of “Buy” and a consensus price target of $41.78.
In other news, insider Jill Hazelbaker sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $35.06, for a total value of $1,753,000.00. Following the transaction, the insider now owns 286,680 shares in the company, valued at $10,051,000.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Garrett Camp sold 170,000 shares of Uber Technologies stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $28.32, for a total transaction of $4,814,400.00. The disclosure for this sale can be found here. Insiders have sold 542,000 shares of company stock worth $16,977,620 over the last quarter. Company insiders own 8.66% of the company’s stock.
UBER opened at $30.26 on Friday. Uber Technologies Inc has a 1-year low of $13.71 and a 1-year high of $43.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 1.68. The company’s fifty day moving average price is $31.83 and its two-hundred day moving average price is $32.11.
Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported ($0.64) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.79) by $0.15. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.35 billion. Uber Technologies had a negative net margin of 71.48% and a negative return on equity of 58.70%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.26) earnings per share. Equities analysts forecast that Uber Technologies Inc will post -3.63 earnings per share for the current year.
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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