Flagship Harbor Advisors LLC decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER – Get Rating) by 10.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,366 shares of the ride-sharing company's stock after selling 1,426 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Uber Technologies were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of UBER. Altimeter Capital Management LP lifted its position in Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company's stock valued at $1,193,422,000 after buying an additional 19,260,000 shares during the last quarter. Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at about $594,489,000. Fisher Asset Management LLC lifted its position in Uber Technologies by 57.1% in the first quarter. Fisher Asset Management LLC now owns 23,796,816 shares of the ride-sharing company's stock valued at $849,070,000 after buying an additional 8,647,468 shares during the last quarter. Lyrical Asset Management LP acquired a new position in Uber Technologies in the first quarter valued at about $199,606,000. Finally, Accel Growth Fund IV Associates L.L.C. acquired a new position in Uber Technologies in the first quarter valued at about $191,981,000. Institutional investors and hedge funds own 71.57% of the company's stock.
Get Uber Technologies alerts:Wall Street Analyst Weigh In
A number of research firms have commented on UBER. Needham & Company LLC upped their target price on shares of Uber Technologies from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Uber Technologies from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, August 1st. Susquehanna Bancshares increased their price target on shares of Uber Technologies from $29.00 to $32.00 in a research report on Wednesday, August 3rd. Morgan Stanley increased their price target on shares of Uber Technologies from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 3rd. Finally, Raymond James raised shares of Uber Technologies from a "market perform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research report on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of "Moderate Buy" and an average price target of $49.45.
Insider Activity
In other news, insider Tony West sold 87,841 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $31.26, for a total value of $2,745,909.66. Following the completion of the sale, the insider now directly owns 141,944 shares of the company's stock, valued at $4,437,169.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.06% of the company's stock.Uber Technologies Stock Performance
Shares of Uber Technologies stock opened at $27.82 on Friday. The firm has a market capitalization of $55.08 billion, a P/E ratio of -5.34 and a beta of 1.21. Uber Technologies, Inc. has a 52 week low of $19.90 and a 52 week high of $48.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The firm's 50 day moving average is $28.90 and its two-hundred day moving average is $27.80.
Uber Technologies (NYSE:UBER – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The ride-sharing company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.25) by ($1.08). The company had revenue of $8.08 billion during the quarter, compared to analysts' expectations of $7.37 billion. Uber Technologies had a negative net margin of 39.39% and a negative return on equity of 69.83%. The business's revenue for the quarter was up 105.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. Research analysts forecast that Uber Technologies, Inc. will post -4.66 EPS for the current fiscal year.
Uber Technologies Profile
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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.
Further Reading
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