Uber Technologies (NYSE:UBER) Stock Price Up 1.7% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s stock price shot up 1.7% during trading on Tuesday . The stock traded as high as $81.38 and last traded at $80.78. 6,424,988 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 29,562,920 shares. The stock had previously closed at $79.42.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UBER. Loop Capital lifted their price objective on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. UBS Group reduced their price target on Uber Technologies from $114.00 to $107.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research report on Thursday, February 6th. Finally, Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $90.91.

Uber Technologies Price Performance

The stock’s 50 day moving average is $67.67 and its two-hundred day moving average is $71.11. The stock has a market capitalization of $169.97 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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 analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in UBER. Vanguard Group Inc. increased its stake in Uber Technologies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after purchasing an additional 2,364,525 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC grew its stake in Uber Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock valued at $2,621,929,000 after acquiring an additional 1,061,088 shares during the last quarter. Capital World Investors increased its holdings in Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock valued at $1,831,021,000 after acquiring an additional 2,792,039 shares in the last quarter. Finally, Edgewood Management LLC raised its position in Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the last quarter. 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.