Magnus Financial Group LLC bought a new stake in Uber Technologies Inc (NYSE:UBER) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,483 shares of the ride-sharing company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in shares of Uber Technologies during the 2nd quarter valued at approximately $26,000. Sound Income Strategies LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $28,000. Signaturefd LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $31,000. Regal Wealth Group Inc. acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $32,000. Finally, Trustcore Financial Services LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 23.57% of the company’s stock.

UBER traded up $1.16 on Tuesday, reaching $35.77. The company’s stock had a trading volume of 163,280 shares, compared to its average volume of 12,330,293. Uber Technologies Inc has a 1 year low of $32.92 and a 1 year high of $47.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.57 and a current ratio of 2.57. The firm has a 50 day moving average of $41.60.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) EPS for the quarter, missing analysts’ consensus estimates of ($3.33) by ($1.39). The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.39 billion. The business’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.01) earnings per share. As a group, equities research analysts forecast that Uber Technologies Inc will post -7.2 earnings per share for the current fiscal year.

UBER has been the subject of a number of recent research reports. Deutsche Bank initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued a “buy” rating and a $58.00 target price for the company. BTIG Research initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued a “buy” rating and a $80.00 target price for the company. Canaccord Genuity initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued a “buy” rating and a $55.00 target price for the company. Citigroup initiated coverage on Uber Technologies in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Needham & Company LLC set a $52.00 target price on Uber Technologies and gave the stock a “buy” rating in a research note on Thursday, July 11th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $53.98.

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

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