Uber Technologies (NYSE:UBER) Stock Price Up 0.9% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) shares traded up 0.9% during mid-day trading on Friday . The company traded as high as $72.44 and last traded at $72.29. 2,572,830 shares changed hands during trading, a decline of 86% from the average session volume of 18,211,082 shares. The stock had previously closed at $71.62.

Analyst Upgrades and Downgrades

UBER has been the topic of several analyst reports. 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. Jefferies Financial Group upped their price target on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. KeyCorp reduced their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company decreased their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Trading Up 0.5 %

The stock’s fifty day simple moving average is $75.38 and its two-hundred day simple moving average is $71.20. The firm has a market cap of $151.53 billion, a PE ratio of 35.97, a PEG ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its holdings in Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock worth $864,390,000 after acquiring an additional 3,179,308 shares in the last quarter. Edgewood Management LLC increased its stake in shares of Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. AMF Tjanstepension AB bought a new stake in shares of Uber Technologies during the 3rd quarter valued at $163,468,000. Janus Henderson Group PLC lifted its stake in shares of Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after buying an additional 2,056,273 shares in the last quarter. Finally, Samlyn Capital LLC bought a new position in Uber Technologies in the 2nd quarter worth $134,987,000. Institutional investors own 80.24% of the company’s stock.

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.