Uber Technologies (NYSE:UBER) Stock Price Up 2.1% – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) were up 2.1% during trading on Monday . The stock traded as high as $73.71 and last traded at $73.07. Approximately 4,802,470 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 19,508,982 shares. The stock had previously closed at $71.55.

Analysts Set New Price Targets

Several research firms have issued reports on UBER. The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. Piper Sandler restated an “overweight” rating and issued a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Tigress Financial raised their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company reduced their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Performance

The stock’s 50-day moving average is $72.09 and its 200 day moving average is $71.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The firm has a market cap of $149.45 billion, a P/E ratio of 15.69, a PEG ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 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%. On average, research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,404 shares of company stock valued at $5,587,619. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Uber Technologies in the fourth quarter valued at about $37,476,000. Centaurus Financial Inc. raised its stake in shares of Uber Technologies by 438.7% during the 4th quarter. Centaurus Financial Inc. now owns 94,127 shares of the ride-sharing company’s stock worth $5,678,000 after purchasing an additional 76,653 shares in the last quarter. Castle Rock Wealth Management LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $1,115,000. Probity Advisors Inc. grew its stake in shares of Uber Technologies by 118.8% in the fourth quarter. Probity Advisors Inc. now owns 6,786 shares of the ride-sharing company’s stock valued at $409,000 after buying an additional 3,685 shares in the last quarter. Finally, Audent Global Asset Management LLC acquired a new position in Uber Technologies during the fourth quarter worth $470,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.