Laurion Capital Management LP Buys Shares of 50,000 Uber Technologies, Inc. (NYSE:UBER)

Laurion Capital Management LP bought a new stake in Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the ride-sharing company’s stock, valued at approximately $2,506,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank bought a new position in Uber Technologies in the second quarter valued at approximately $25,000. IMA Wealth Inc. bought a new position in shares of Uber Technologies during the 2nd quarter worth approximately $25,000. Tradition Wealth Management LLC boosted its stake in shares of Uber Technologies by 199.0% during the 2nd quarter. Tradition Wealth Management LLC now owns 604 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 402 shares during the period. Meridian Wealth Partners LLC bought a new position in shares of Uber Technologies during the 1st quarter worth approximately $37,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in Uber Technologies during the 2nd quarter worth approximately $44,000. 72.73% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the company. Cowen lifted their price target on Uber Technologies from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 1st. Jefferies Financial Group initiated coverage on Uber Technologies in a report on Thursday, August 5th. They issued a “buy” rating and a $75.00 price objective for the company. DA Davidson dropped their price objective on Uber Technologies from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 5th. JMP Securities reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Uber Technologies in a report on Wednesday, September 22nd. Finally, Gordon Haskett initiated coverage on Uber Technologies in a report on Monday, August 2nd. They issued a “buy” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $68.63.

Shares of Uber Technologies stock traded up $1.11 on Thursday, hitting $47.52. The company had a trading volume of 352,738 shares, compared to its average volume of 22,034,893. The stock has a market capitalization of $89.54 billion, a price-to-earnings ratio of -72.51 and a beta of 1.54. Uber Technologies, Inc. has a 1 year low of $32.90 and a 1 year high of $64.05. The stock has a 50 day moving average of $42.66 and a 200-day moving average of $48.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 4th. The ride-sharing company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $1.11. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.76 billion. Uber Technologies had a negative return on equity of 15.64% and a negative net margin of 7.78%. Uber Technologies’s quarterly revenue was up 75.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.02) earnings per share. Equities analysts anticipate that Uber Technologies, Inc. will post -0.2 earnings per share for the current year.

Uber Technologies Company Profile

Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers multi-modal people transportation, restaurant food delivery, and connecting freight carriers and shippers. It operates through the following segments: Rides, Eats, Freight, Other Bets and ATG and Other Technology Programs.

Further Reading: What can cause a stock to outperform?

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

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