The Vanguard Group, Inc. recently announced the acquisition of new stake in Uber Technologies Inc. (NYSE:UBER). The institutional investor has increased its shareholding in the Technology company by 11.87% to 51.67 million shares with purchase of 5.48 million shares. This fresh investment now brings its stake to 2.96% valued currently at $1.56 billion. In addition, Morgan Stanley Investment Managem.. raised its holdings by 6.68 million to 46.12 million shares. And Jennison Associates LLC has lifted its position by 44.79% or 13.96 million shares – to 45.14 million shares.
With over 14.95 million Uber Technologies Inc. (UBER) shares trading Monday and a closing price of $33.63 on the day, the dollar volume was approximately $502.78 million. The shares have shown a positive weekly performance of 8.34% and its price on 08/31/20 lost nearly -0.50%. Currently, there are 1.74B common shares owned by the public and among those 1.63B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for UBER have a consensus price objective of $41.64. The analysts have set the share’s price value over the next 12 months at a high of $58.00 and a low of $19.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Uber Technologies Inc. stock is 1.90 for the next 12 months. The average price target is 18.41% above its last price level and an upside to the estimated low will see the stock lose -77.0% over that period. But an upside of 42.02% will see the stock hit the forecast high price target while mean target price for the stock is $41.00.
Insiders at the company have transacted a total of 269 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 1,654,834 shares. Insider sales of the common stock occurred on 262 occasions, with total insider shares sold totaling 114,348,892 shares.
The top 3 mutual fund holders in Uber Technologies Inc. are Vanguard Total Stock Market Index, Harbor Capital Appreciation Fund, and Fidelity Blue Chip Growth Fund. Vanguard Total Stock Market Index owns 32.08 million shares of the company’s stock, all valued at over $970.69 million. The company sold 47726.0 shares recently to bring their total holdings to about 1.84% of the shares outstanding. Harbor Capital Appreciation Fund bought 6.85 million shares to see its total holdings expand to 18.73 million shares valued at over $566.66 million and representing 1.07% of the shares outstanding. Fidelity Blue Chip Growth Fund bought 14719.0 shares to bring its total holdings to over 15.86 million shares at a value of $480.05 million. Fidelity Blue Chip Growth Fund now owns shares totaling to 0.91% of the shares outstanding.
Shares of Uber Technologies Inc. (NYSE: UBER) opened at $33.62, down -$0.18 from a prior closing price of $33.80. However, the script later closed the day at $33.63, down -0.50%. The company’s stock has a 5-day price change of 8.34% and -6.09% over the past three months. UBER shares are trading 13.08% year to date (YTD), with the 12-month market performance up to 3.25% higher. It has a 12-month low price of $13.71 and touched a high of $41.86 over the same period. Currently, 14.95 million shares have been traded, compared to an average intraday trading volume of 22.85 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.46%, 6.17%, and 6.89% respectively.
Institutional ownership of Uber Technologies Inc. (NYSE: UBER) shares accounts for 69.40% of the company’s 1.74B shares outstanding. Mutual fund holders own 26.67%, while other institutional holders and individual stakeholders account for 4.72% and 22.06% respectively.
It has a market capitalization of $57.20B. The earnings-per-share (ttm) stands at -$4.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.17% over the week and 4.08% over the month.
Analysts forecast that Uber Technologies Inc. (UBER) will achieve an EPS of -$0.65 for the current quarter, -$0.52 for the next quarter and -$1.64 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.65 while analysts give the company a high EPS estimate of -$0.44. Comparatively, EPS for the current quarter was -$0.68 a year ago. Earnings per share for the fiscal year are expected to increase by 43.50%, and 57.40% over the next financial year. EPS should grow at an annualized rate of 64.30% over the next five years, compared to -66.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate Uber Technologies Inc. (UBER) as a “Strong Buy” at a consensus score of 1.90. Specifically, 31 Wall Street analysts polled rate the stock as a buy, while 4 of the 41 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the UBER, a number of firms have released research notes about the stock. Daiwa Securities stated their Outperform rating for the stock in a research note on August 21, 2020, with the firm’s price target at $34. Raymond James coverage for the Uber Technologies Inc. (UBER) stock in a research note released on July 22, 2020 offered a Mkt Perform rating with a price target of. BTIG Research was of a view on June 11, 2020 that the stock is Buy, while Wolfe Research gave the stock Outperform rating on May 26, 2020, issuing a price target of. DA Davidson on their part issued Buy rating on May 08, 2020.