Uber Technologies (NYSE:UBER) Shares Gap Up to $58.48

Shares of Uber Technologies, Inc. (NYSE:UBER) gapped up before the market opened on Tuesday . The stock had previously closed at $58.48, but opened at $62.55. Uber Technologies shares last traded at $60.82, with a volume of 3,599,978 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UBER. Melius initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Melius Research assumed coverage on shares of Uber Technologies in a research note on Monday, July 22nd. They set a “hold” rating and a $77.00 target price for the company. Citigroup raised their price target on shares of Uber Technologies from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Oppenheimer reiterated an “outperform” rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, June 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $75.00 target price on shares of Uber Technologies in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.76.

Uber Technologies Price Performance

The company has a market cap of $135.80 billion, a P/E ratio of 103.53, a P/E/G ratio of 1.32 and a beta of 1.36. The stock has a 50-day simple moving average of $68.25 and a 200 day simple moving average of $70.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results 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 business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. On average, equities analysts expect that Uber Technologies, Inc. will post 0.84 EPS for the current year.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Tony West sold 18,750 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,656,996 shares of the company’s stock, valued at approximately $109,245,746.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,135,984 shares of company stock worth $78,213,297. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently made changes to their positions in UBER. Vanguard Group Inc. raised its holdings in Uber Technologies by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after purchasing an additional 3,623,951 shares during the last quarter. Capital World Investors lifted its holdings in Uber Technologies by 0.7% in the fourth quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after buying an additional 283,802 shares during the period. Capital Research Global Investors boosted its position in Uber Technologies by 8.2% during the first quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after acquiring an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Uber Technologies by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after acquiring an additional 9,996,508 shares during the last quarter. Finally, Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at approximately $1,415,778,000. 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.