Nachman Norwood & Parrott Inc bought a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,211 shares of the ride-sharing company’s stock, valued at approximately $44,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UBER. Morgan Stanley lifted its stake in shares of Uber Technologies by 46.5% during the 1st quarter. Morgan Stanley now owns 78,273,681 shares of the ride-sharing company’s stock valued at $2,185,401,000 after buying an additional 24,836,270 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Uber Technologies by 44.8% during the 2nd quarter. Jennison Associates LLC now owns 45,137,556 shares of the ride-sharing company’s stock valued at $1,402,875,000 after buying an additional 13,963,363 shares in the last quarter. FIL Ltd lifted its stake in shares of Uber Technologies by 295,273.0% during the 2nd quarter. FIL Ltd now owns 11,324,599 shares of the ride-sharing company’s stock valued at $351,968,000 after buying an additional 11,320,765 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 13.9% during 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 in the last quarter. Finally, Jackson Square Partners LLC lifted its stake in shares of Uber Technologies by 56.0% during the 2nd quarter. Jackson Square Partners LLC now owns 17,609,096 shares of the ride-sharing company’s stock valued at $547,290,000 after buying an additional 6,324,212 shares in the last quarter. Institutional investors own 67.75% of the company’s stock.
Shares of UBER opened at $33.72 on Friday. The company has a 50 day moving average price of $35.60 and a 200-day moving average price of $32.35. Uber Technologies, Inc. has a fifty-two week low of $13.71 and a fifty-two week high of $41.86. The stock has a market capitalization of $59.10 billion, a PE ratio of -8.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.64 and a current ratio of 1.64.
Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Thursday, August 6th. The ride-sharing company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.24). The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Uber Technologies had a negative return on equity of 38.83% and a negative net margin of 50.99%. Uber Technologies’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the previous year, the company posted ($4.72) EPS. Equities research analysts forecast that Uber Technologies, Inc. will post -3.85 EPS for the current year.
A number of brokerages have issued reports on UBER. Daiwa Capital Markets upgraded shares of Uber Technologies from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Friday, August 21st. Stifel Nicolaus lifted their price target on shares of Uber Technologies from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Uber Technologies from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Morgan Stanley reduced their price target on shares of Uber Technologies from $46.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Citigroup reduced their price target on shares of Uber Technologies from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Three research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company. Uber Technologies currently has an average rating of “Buy” and a consensus target price of $41.51.
In related news, insider Tony West sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $33.62, for a total transaction of $67,240.00. Following the completion of the transaction, the insider now owns 281,341 shares in the company, valued at approximately $9,458,684.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 6,000 shares of company stock valued at $200,220. 8.66% of the stock is currently owned by company insiders.
About Uber Technologies
Uber Technologies, Inc develops and operates proprietary technology applications primarily 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, as well as connect consumers with restaurants and food delivery service providers for meal preparation and delivery services.
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