Uber Technologies (NYSE:UBER) Trading Up 3% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price rose 3% during mid-day trading on Thursday . The stock traded as high as $75.54 and last traded at $75.25. Approximately 5,098,070 shares traded hands during trading, a decline of 74% from the average daily volume of 19,501,073 shares. The stock had previously closed at $73.02.

Analysts Set New Price Targets

A number of research analysts have commented on UBER shares. KGI Securities restated a “neutral” rating and issued a $78.00 target price on shares of Uber Technologies in a research note on Tuesday, March 11th. Citizens Jmp lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Truist Financial raised their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a market capitalization of $155.04 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The stock has a 50-day moving average of $72.25 and a 200 day moving average of $71.56.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating 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%. On average, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Nikki Krishnamurthy sold 20,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.57, for a total value of $1,431,400.00. Following the completion of the sale, the senior vice president now owns 361,908 shares in the company, valued at $25,901,755.56. This represents a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares in the company, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,404 shares of company stock valued at $5,587,619. Company 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 made changes to their positions in the stock. Fourth Dimension Wealth LLC acquired a new position in shares of Uber Technologies during the fourth quarter worth about $27,000. Avion Wealth raised its holdings in shares of Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Uber Technologies in the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Uber Technologies in the 4th quarter valued at $28,000. Finally, GHP Investment Advisors Inc. increased its stake in Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after buying an additional 223 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.