Wedbush Securities Inc. Buys Shares of 6,873 Uber Technologies Inc (NYSE:UBER)

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Wedbush Securities Inc. bought a new stake in shares of Uber Technologies Inc (NYSE:UBER) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,873 shares of the ride-sharing company’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBER. Legacy Advisors LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $28,000. Signaturefd LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $31,000. Regal Wealth Group Inc. purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $32,000. Finally, Trustcore Financial Services LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth approximately $36,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

NYSE UBER traded up $2.01 on Friday, hitting $35.23. 13,859,200 shares of the company’s stock traded hands, compared to its average volume of 11,837,192. The company has a current ratio of 2.57, a quick ratio of 1.68 and a debt-to-equity ratio of 0.36. Uber Technologies Inc has a 1-year low of $32.92 and a 1-year high of $47.08. The stock’s 50-day moving average price is $42.27.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, August 8th. The ride-sharing company reported ($4.72) EPS for the quarter, missing the consensus estimate of ($3.33) by ($1.39). The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted ($2.01) EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts forecast that Uber Technologies Inc will post -7.2 EPS for the current year.

UBER has been the subject of a number of recent analyst reports. Oppenheimer set a $55.00 target price on shares of Uber Technologies and gave the stock a “buy” rating in a research note on Friday, August 9th. Wolfe Research initiated coverage on shares of Uber Technologies in a research note on Tuesday, June 4th. They issued a “market perform” rating for the company. DA Davidson lowered their target price on shares of Uber Technologies to $46.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Evercore ISI reiterated a “buy” rating on shares of Uber Technologies in a research note on Sunday, August 11th. Finally, Cowen lifted their target price on shares of Uber Technologies from $58.00 to $60.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Uber Technologies currently has an average rating of “Buy” and a consensus target price of $53.98.

About Uber Technologies

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.

Further Reading: Stop Order

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

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