Uber Technologies (NYSE:UBER) Stock Price Up 3% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares rose 3% on Friday . The stock traded as high as $75.91 and last traded at $75.28. Approximately 21,882,922 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 20,371,088 shares. The stock had previously closed at $73.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on UBER shares. Wells Fargo & Company upped their price target on Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Arete Research upgraded Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. TD Cowen dropped their price target on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Wolfe Research increased their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

Uber Technologies Trading Up 3.0 %

The company has a fifty day moving average of $74.06 and a 200-day moving average of $71.45. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $157.47 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tony West sold 23,404 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock valued at $5,793,869 over the last 90 days. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UBER. Navalign LLC boosted its holdings in Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock valued at $1,536,000 after purchasing an additional 126 shares during the last quarter. Grove Bank & Trust lifted its holdings in Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after acquiring an additional 133 shares during the last quarter. Amplius Wealth Advisors LLC grew its position in Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock worth $302,000 after acquiring an additional 145 shares during the period. Welch & Forbes LLC increased its stake in Uber Technologies by 3.9% during the fourth quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after acquiring an additional 148 shares during the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC raised its position in Uber Technologies by 3.5% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

About Uber Technologies

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.