Comerica Bank Reduces Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Comerica Bank cut its stake in Uber Technologies, Inc. (NYSE:UBERGet Rating) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,334 shares of the ride-sharing company’s stock after selling 6,019 shares during the period. Comerica Bank’s holdings in Uber Technologies were worth $2,139,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Uber Technologies by 1.5% in the first quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock valued at $3,202,889,000 after buying an additional 1,368,569 shares in the last quarter. Altimeter Capital Management LP increased its stake in shares of Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after purchasing an additional 19,260,000 shares in the last quarter. Capital World Investors increased its stake in shares of Uber Technologies by 18.5% during the 1st quarter. Capital World Investors now owns 22,070,619 shares of the ride-sharing company’s stock worth $787,480,000 after purchasing an additional 3,443,554 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Uber Technologies by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 19,739,878 shares of the ride-sharing company’s stock worth $403,878,000 after purchasing an additional 95,513 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Uber Technologies by 145.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,826,227 shares of the ride-sharing company’s stock worth $241,965,000 after purchasing an additional 7,003,848 shares in the last quarter. 71.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UBER. Jefferies Financial Group began coverage on shares of Uber Technologies in a research note on Monday, January 9th. They set a “buy” rating and a $38.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Uber Technologies from $55.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial lowered their target price on shares of Uber Technologies from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Cowen lowered their target price on shares of Uber Technologies from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, October 24th. Finally, Morgan Stanley lowered their target price on shares of Uber Technologies from $70.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, October 3rd. One equities research analyst has rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.56.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 63,100 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $31.02, for a total value of $1,957,362.00. Following the transaction, the insider now owns 80,750 shares in the company, valued at approximately $2,504,865. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.92% of the stock is currently owned by company insiders.

Uber Technologies Stock Performance

NYSE:UBER opened at $29.03 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $57.90 billion, a price-to-earnings ratio of -6.39 and a beta of 1.18. The firm’s fifty day simple moving average is $27.28 and its 200 day simple moving average is $27.51. Uber Technologies, Inc. has a twelve month low of $19.90 and a twelve month high of $42.56.

Uber Technologies (NYSE:UBERGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The ride-sharing company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.44). Uber Technologies had a negative return on equity of 90.49% and a negative net margin of 30.45%. The firm had revenue of $8.34 billion during the quarter, compared to analyst estimates of $8.08 billion. As a group, equities research analysts expect that Uber Technologies, Inc. will post -5.14 earnings per share for the current fiscal year.

Uber Technologies Profile

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Uber Technologies, Inc develops and operates proprietary technology applications 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; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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

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