Argus upgraded shares of Uber Technologies (NYSE:UBER) from a hold rating to a buy rating in a research note published on Thursday morning, Briefing.com Automated Import reports. Argus currently has $35.00 price target on the ride-sharing company’s stock.
Several other equities analysts have also issued reports on UBER. Macquarie set a $51.00 price objective on Uber Technologies and gave the stock a buy rating in a report on Monday, September 30th. Stifel Nicolaus reiterated a hold rating and set a $50.00 target price on shares of Uber Technologies in a research note on Wednesday, October 23rd. Citigroup decreased their target price on shares of Uber Technologies from $55.00 to $45.00 and set an outperform rating for the company in a research note on Tuesday, November 5th. Barclays decreased their target price on shares of Uber Technologies from $50.00 to $40.00 and set an overweight rating for the company in a research note on Tuesday, November 5th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Uber Technologies presently has a consensus rating of Buy and a consensus price target of $50.26.
Shares of UBER stock traded up $0.80 during mid-day trading on Thursday, hitting $26.79. 40,835,270 shares of the stock were exchanged, compared to its average volume of 29,077,308. The firm’s fifty day moving average price is $30.32. Uber Technologies has a 12-month low of $25.58 and a 12-month high of $47.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.82 and a current ratio of 2.82.
In other Uber Technologies news, Director Travis Cordell Kalanick sold 251,713 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $27.15, for a total value of $6,834,007.95. Following the completion of the transaction, the director now directly owns 75,132,095 shares of the company’s stock, valued at $2,039,836,379.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Manik Gupta sold 15,188 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.01, for a total transaction of $410,227.88. In the last 90 days, insiders sold 21,944,057 shares of company stock valued at $592,122,803.
A number of institutional investors have recently modified their holdings of UBER. SB Investment Advisers UK Ltd. purchased a new position in Uber Technologies in the second quarter valued at about $10,306,943,000. BlackRock Inc. purchased a new position in Uber Technologies in the second quarter valued at about $1,020,876,000. Dragoneer Investment Group LLC purchased a new position in Uber Technologies in the second quarter valued at about $986,048,000. Morgan Stanley purchased a new position in Uber Technologies in the second quarter valued at about $960,067,000. Finally, ICONIQ Capital LLC purchased a new position in shares of Uber Technologies during the 2nd quarter worth approximately $737,300,000. 45.32% of the stock is owned by institutional investors.
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.
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