Uber Technologies (NYSE:UBER) Shares Up 0.1% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price shot up 0.1% during mid-day trading on Wednesday . The company traded as high as $76.47 and last traded at $75.32. 2,545,854 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 19,417,709 shares. The stock had previously closed at $75.26.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UBER. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $90.81.

Uber Technologies Price Performance

The business has a fifty day simple moving average of $70.05 and a 200-day simple moving average of $71.57. The stock has a market capitalization of $157.74 billion, a P/E ratio of 16.54, a PEG ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Uber Technologies

A number of hedge funds have recently bought and sold shares of the business. Castle Rock Wealth Management LLC purchased a new stake in shares of Uber Technologies during the 4th quarter valued at $1,115,000. Probity Advisors Inc. raised its position in Uber Technologies by 118.8% in the fourth quarter. Probity Advisors Inc. now owns 6,786 shares of the ride-sharing company’s stock worth $409,000 after acquiring an additional 3,685 shares during the period. Audent Global Asset Management LLC purchased a new position in Uber Technologies in the fourth quarter valued at about $470,000. Park Square Financial Group LLC purchased a new position in Uber Technologies in the fourth quarter valued at about $276,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Uber Technologies during the 4th quarter valued at approximately $406,000. 80.24% of the stock is currently owned by institutional investors.

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.