Westbourne Investment Advisors Inc. acquired a new position in shares of Uber Technologies Inc (NYSE:UBER) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,675 shares of the ride-sharing company’s stock, valued at approximately $234,000.
Several other large investors have also recently bought and sold shares of the stock. SB Investment Advisers UK Ltd. bought a new position in Uber Technologies in the second quarter valued at approximately $10,306,943,000. BlackRock Inc. bought a new position in Uber Technologies in the second quarter valued at approximately $1,020,876,000. Dragoneer Investment Group LLC bought a new position in Uber Technologies in the second quarter valued at approximately $986,048,000. Morgan Stanley bought a new position in Uber Technologies in the second quarter valued at approximately $960,067,000. Finally, ICONIQ Capital LLC bought a new position in Uber Technologies in the second quarter valued at approximately $737,300,000. Institutional investors and hedge funds own 45.35% of the company’s stock.
A number of research analysts have weighed in on UBER shares. HSBC upgraded Uber Technologies from a “hold” rating to a “buy” rating and decreased their price target for the company from $49.00 to $44.00 in a research note on Monday, September 16th. ValuEngine upgraded Uber Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley decreased their price target on Uber Technologies from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. They noted that the move was a valuation call. Cowen raised their price target on Uber Technologies from $58.00 to $60.00 and gave the company a “positive” rating in a research note on Friday, August 9th. Finally, JMP Securities restated an “outperform” rating on shares of Uber Technologies in a research note on Tuesday, August 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.08.
Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($3.33) by ($1.39). The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.39 billion. The company’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.01) earnings per share. As a group, sell-side analysts forecast that Uber Technologies Inc will post -7.08 EPS for the current year.
Uber Technologies 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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