Uber Technologies (NYSE:UBER) Trading 1.2% Higher – Here’s What Happened

by · The Markets Daily

Uber Technologies, Inc. (NYSE:UBER – Get Free Report) was up 1.2% during mid-day trading on Wednesday . The stock traded as high as $74.45 and last traded at $73.89. Approximately 3,969,747 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 20,037,439 shares. The stock had previously closed at $72.99.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. DA Davidson reduced their price objective on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Citigroup dropped their target price on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.41.

Get Our Latest Stock Report on Uber Technologies

Uber Technologies Stock Performance

The business has a fifty day simple moving average of $73.83 and a two-hundred day simple moving average of $71.81. The company has a market cap of $134.92 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER – Get Free Report) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 over the last quarter. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its position in shares of Uber Technologies by 4.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after acquiring an additional 13,433 shares during the last quarter. Polianta Ltd purchased a new position in Uber Technologies during the 4th quarter worth $1,206,000. Allworth Financial LP raised its stake in Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after buying an additional 1,663 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Uber Technologies during the 3rd quarter worth $1,041,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Uber Technologies in the 4th quarter valued at about $3,188,000. 80.24% of the stock is currently owned by institutional investors.

About Uber Technologies

(Get Free Report)

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.

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