Uber Technologies (NYSE:UBER) Trading 1.5% Higher – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 1.5% during mid-day trading on Friday . The company traded as high as $94.11 and last traded at $93.46. 8,112,562 shares changed hands during trading, a decline of 62% from the average session volume of 21,089,075 shares. The stock had previously closed at $92.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, May 7th. Bank of America upped their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Uber Technologies from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research note on Monday, May 5th. Thirteen investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $94.85.

Uber Technologies Stock Up 1.5%

The business’s 50 day moving average is $86.90 and its 200-day moving average is $76.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $195.43 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business posted ($0.32) EPS. Uber Technologies’s revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the sale, the chief financial officer directly owned 21,063 shares of the company’s stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently bought and sold shares of UBER. Brighton Jones LLC boosted its holdings in Uber Technologies by 3.4% in the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in Uber Technologies in the 4th quarter valued at $395,000. Proficio Capital Partners LLC boosted its holdings in Uber Technologies by 3.2% in the 4th quarter. Proficio Capital Partners LLC now owns 70,613 shares of the ride-sharing company’s stock valued at $4,259,000 after purchasing an additional 2,184 shares during the period. Finally, One Capital Management LLC boosted its holdings in Uber Technologies by 97.9% in the 4th quarter. One Capital Management LLC now owns 6,903 shares of the ride-sharing company’s stock valued at $416,000 after purchasing an additional 3,414 shares during the period. 80.24% of the stock is owned by institutional investors.

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.