Alpha Paradigm Partners LLC purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 6,958 shares of the ride-sharing company’s stock, valued at approximately $349,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of UBER. Vanguard Group Inc. lifted its position in Uber Technologies by 12.8% during the 2nd quarter. Vanguard Group Inc. now owns 80,742,670 shares of the ride-sharing company’s stock worth $4,046,822,000 after buying an additional 9,134,418 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Uber Technologies by 89.6% during the 1st quarter. Janus Henderson Group PLC now owns 19,324,065 shares of the ride-sharing company’s stock worth $1,053,341,000 after purchasing an additional 9,134,360 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Uber Technologies during the 1st quarter worth about $421,672,000. Morgan Stanley raised its holdings in Uber Technologies by 5.6% during the 1st quarter. Morgan Stanley now owns 128,831,213 shares of the ride-sharing company’s stock worth $7,022,589,000 after purchasing an additional 6,824,475 shares during the last quarter. Finally, Third Point LLC bought a new stake in Uber Technologies during the 1st quarter worth about $367,942,000. Institutional investors and hedge funds own 72.73% of the company’s stock.
Several analysts have weighed in on UBER shares. DA Davidson dropped their price objective on Uber Technologies from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 5th. The Goldman Sachs Group initiated coverage on Uber Technologies in a research note on Monday, September 13th. They issued a “buy” rating and a $64.00 price target for the company. Oppenheimer lowered their price target on Uber Technologies from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Thursday, July 1st. Finally, Jefferies Financial Group initiated coverage on Uber Technologies in a research note on Thursday, August 5th. They issued a “buy” rating and a $75.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Uber Technologies currently has an average rating of “Buy” and a consensus price target of $68.63.
Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, August 4th. The ride-sharing company reported $0.58 earnings per share for the quarter, topping the consensus estimate of ($0.53) by $1.11. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Uber Technologies had a negative return on equity of 15.64% and a negative net margin of 7.78%. The company’s quarterly revenue was up 75.3% compared to the same quarter last year. During the same quarter last year, the business earned ($1.02) EPS. As a group, equities analysts anticipate that Uber Technologies, Inc. will post -0.2 earnings per share for the current fiscal year.
About Uber Technologies
Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through the following segments: Rides, Eats, Freight, Other Bets and ATG and Other Technology Programs.
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