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

Shares of Uber Technologies, Inc. (NYSE:UBERGet Free Report) shot up 1.7% during trading on Tuesday . The stock traded as high as $81.38 and last traded at $80.78. 6,424,988 shares changed hands 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.

Wall Street Analyst Weigh In

Several brokerages have commented on UBER. Evercore ISI decreased their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Truist Financial decreased their target price on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.91.

Check Out Our Latest Stock Analysis on Uber Technologies

Uber Technologies Price Performance

The stock’s 50 day simple moving average is $66.54 and its 200 day simple moving average is $70.81. 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 has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBERGet Free Report) last announced 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, analysts expect that Uber Technologies, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Capital Research Global Investors lifted its position in Uber Technologies by 79.0% during the fourth 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 acquiring an additional 52,125,476 shares during the last quarter. Norges Bank purchased a new stake in Uber Technologies during the fourth quarter valued at approximately $1,467,754,000. Jennison Associates LLC lifted its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the last quarter. Boston Partners purchased a new stake in Uber Technologies during the fourth quarter valued at approximately $381,057,000. Finally, Assenagon Asset Management S.A. lifted its position in Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after acquiring an additional 5,753,637 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Company Profile

(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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