Uber Technologies (NYSE:UBER) Trading Up 7.9%

Shares of Uber Technologies, Inc. (NYSE:UBER) shot up 7.9% during trading on Tuesday . The stock traded as high as $63.40 and last traded at $63.09. 20,662,367 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 19,004,408 shares. The stock had previously closed at $58.48.

Analyst Ratings Changes

UBER has been the subject of a number of analyst reports. Loop Capital lowered their price objective on Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Monday, July 15th. Roth Mkm restated a “buy” rating and issued a $89.00 price objective (down from $91.00) on shares of Uber Technologies in a report on Friday, May 10th. Melius Research started 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. Finally, JMP Securities restated a “market outperform” rating and issued a $75.00 price target on shares of Uber Technologies in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.76.

Uber Technologies Price Performance

The company has a market capitalization of $135.55 billion, a price-to-earnings ratio of 103.53, a PEG ratio of 1.32 and a beta of 1.36. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80. The company’s 50 day simple moving average is $68.25 and its 200-day simple moving average is $70.98.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. On average, equities research analysts predict that Uber Technologies, Inc. will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $109,245,746.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction on 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 transaction, the chief executive officer now owns 1,656,996 shares in the company, valued at approximately $109,245,746.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 18,750 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The disclosure for this sale can be found here. Insiders sold 1,135,984 shares of company stock worth $78,213,297 over the last three months. 3.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UBER. Covenant Asset Management LLC increased its holdings in Uber Technologies by 0.3% during the 1st quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock worth $4,078,000 after purchasing an additional 157 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of Uber Technologies by 2.9% in the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock worth $347,000 after buying an additional 157 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Uber Technologies by 3.3% in the first quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after acquiring an additional 157 shares in the last quarter. Wellington Shields Capital Management LLC boosted its stake in Uber Technologies by 6.1% during the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after acquiring an additional 159 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its holdings in Uber Technologies by 3.2% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock worth $398,000 after acquiring an additional 160 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.