Uber Technologies (NYSE:UBER) Trading Up 1.7% – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) shot up 1.7% during mid-day trading on Tuesday . The company traded as high as $81.38 and last traded at $80.78. 6,424,988 shares were traded during mid-day trading, a decline of 78% from the average session volume of 29,562,920 shares. The stock had previously closed at $79.42.

Analysts Set New Price Targets

A number of research firms recently issued reports on UBER. Bank of America increased their price target on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Tigress Financial raised their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI decreased their target price on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.91.

Uber Technologies Stock Up 2.5 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm has a market capitalization of $171.49 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.81 and a beta of 1.39. The company’s 50-day simple moving average is $66.54 and its two-hundred day simple moving average is $70.81.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, research analysts expect that Uber Technologies, Inc. will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after buying an additional 2,364,525 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Uber Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after buying an additional 1,061,088 shares in the last quarter. Capital World Investors lifted its stake in shares of Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after buying an additional 2,792,039 shares in the last quarter. Finally, Edgewood Management LLC lifted its stake in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares in the last quarter. Hedge funds and other institutional investors 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.