Uber Technologies (NYSE:UBER) Shares Up 0.7%

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 0.7% during mid-day trading on Tuesday . The company traded as high as $64.77 and last traded at $64.23. 3,527,291 shares traded hands during trading, a decline of 81% from the average session volume of 18,759,479 shares. The stock had previously closed at $63.76.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Piper Sandler lifted their price target on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Wells Fargo & Company increased their price objective on shares of Uber Technologies from $89.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Monday, July 15th. Citigroup upped their target price on Uber Technologies from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, Bank of America dropped their price target on Uber Technologies from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.82.

Uber Technologies Price Performance

The company’s fifty day moving average is $68.56 and its two-hundred day moving average is $71.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $132.08 billion, a price-to-earnings ratio of 101.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned ($0.08) EPS. Equities research analysts forecast that Uber Technologies, Inc. will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the sale, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Tony West sold 28,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the sale, the insider now directly owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at $109,245,746.28. The disclosure for this sale can be found here. Insiders have sold 1,135,984 shares of company stock worth $78,213,297 in the last quarter. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently bought and sold shares of UBER. Vanguard Group Inc. increased its holdings in shares of Uber Technologies by 34.8% in the 4th quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after acquiring an additional 43,275,830 shares during the last quarter. Norges Bank bought a new stake in Uber Technologies during the fourth quarter valued at $1,415,778,000. Edgewood Management LLC bought a new position in shares of Uber Technologies in the 4th quarter worth about $783,401,000. Price T Rowe Associates Inc. MD lifted its position in shares of Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after buying an additional 9,996,508 shares during the last quarter. Finally, GQG Partners LLC boosted its holdings in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after buying an additional 9,541,366 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.