Synovus Financial Corp Acquires New Position in Uber Technologies Inc (NYSE:UBER)

Synovus Financial Corp acquired a new stake in shares of Uber Technologies Inc (NYSE:UBER) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 905 shares of the ride-sharing company’s stock, valued at approximately $41,000.

Other large investors have also made changes to their positions in the company. Prudential Financial Inc. bought a new position in shares of Uber Technologies in the second quarter valued at approximately $316,000. Valley National Advisers Inc. acquired a new stake in Uber Technologies during the second quarter valued at approximately $88,000. Schroder Investment Management Group acquired a new stake in Uber Technologies during the second quarter valued at approximately $62,000. Financial Advocates Investment Management acquired a new stake in Uber Technologies during the second quarter valued at approximately $357,000. Finally, Allianz Asset Management GmbH acquired a new stake in Uber Technologies during the second quarter valued at approximately $52,584,000. 23.57% of the stock is owned by institutional investors and hedge funds.

NYSE:UBER traded up $0.56 during midday trading on Thursday, reaching $32.55. The stock had a trading volume of 161,227 shares, compared to its average volume of 12,753,604. Uber Technologies Inc has a 1-year low of $30.67 and a 1-year high of $47.08. The business has a fifty day moving average price of $38.17. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.36.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, August 8th. The ride-sharing company reported ($4.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.33) by ($1.39). The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm earned ($2.01) EPS. The company’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that Uber Technologies Inc will post -7.2 EPS for the current fiscal year.

Several analysts recently commented on UBER shares. Royal Bank of Canada started coverage on shares of Uber Technologies in a research note on Tuesday, June 4th. They set an “outperform” rating and a $62.00 target price for the company. Susquehanna Bancshares assumed coverage on shares of Uber Technologies in a research note on Tuesday, May 21st. They issued a “neutral” rating and a $42.00 price objective on the stock. New Street Research assumed coverage on shares of Uber Technologies in a research note on Thursday, May 23rd. They issued a “buy” rating and a $50.00 price objective on the stock. Goldman Sachs Group assumed coverage on shares of Uber Technologies in a research note on Tuesday, June 4th. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, Cross Research assumed coverage on shares of Uber Technologies in a research note on Tuesday, May 28th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average 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.

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

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