Traynor Capital Management Inc. Invests $2.24 Million in Uber Technologies Inc (NYSE:UBER)

Traynor Capital Management Inc. bought a new position in shares of Uber Technologies Inc (NYSE:UBER) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,706 shares of the ride-sharing company’s stock, valued at approximately $2,244,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Advisors LLC purchased a new position in shares of Uber Technologies during the second quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new position in shares of Uber Technologies during the second quarter worth approximately $28,000. Regal Wealth Group Inc. purchased a new position in shares of Uber Technologies during the second quarter worth approximately $32,000. Trustcore Financial Services LLC acquired a new stake in shares of Uber Technologies during the second quarter worth $36,000. Finally, Reilly Financial Advisors LLC acquired a new stake in shares of Uber Technologies during the second quarter worth $39,000. Institutional investors and hedge funds own 0.27% of the company’s stock.

Uber Technologies stock traded up $0.20 during midday trading on Wednesday, reaching $39.35. The company’s stock had a trading volume of 164,877 shares, compared to its average volume of 6,456,975. Uber Technologies Inc has a fifty-two week low of $36.08 and a fifty-two week high of $47.08. The company’s 50 day simple moving average is $43.49.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, May 30th. The ride-sharing company reported ($2.26) EPS for the quarter, beating analysts’ consensus estimates of ($2.39) by $0.13. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Uber Technologies’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities analysts anticipate that Uber Technologies Inc will post -6.47 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. Susquehanna Bancshares assumed coverage on Uber Technologies in a report on Tuesday, May 21st. They set a “neutral” rating and a $42.00 price target for the company. BTIG Research assumed coverage on Uber Technologies in a report on Tuesday, June 4th. They set a “buy” rating and a $80.00 price target for the company. Deutsche Bank assumed coverage on Uber Technologies in a report on Tuesday, June 4th. They set a “buy” rating and a $58.00 price target for the company. DA Davidson decreased their price target on Uber Technologies to $46.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Needham & Company LLC set a $52.00 price target on Uber Technologies and gave the stock a “buy” rating in a report on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Uber Technologies has a consensus rating of “Buy” and an average price target of $53.90.

Uber Technologies Profile

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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