Uber Technologies (NYSE:UBER) Trading 3.3% Higher – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) was up 3.3% on Monday . The stock traded as high as $84.72 and last traded at $85.55. Approximately 9,779,477 shares traded hands during trading, a decline of 51% from the average daily volume of 20,117,217 shares. The stock had previously closed at $82.81.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UBER. Barclays upped their target price on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup upped their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, May 7th. Bank of America raised their target price on shares of Uber Technologies from $96.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday. Finally, DA Davidson boosted their price target on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Price Performance

The company has a fifty day moving average price of $74.72 and a 200 day moving average price of $71.48. The company has a market capitalization of $184.23 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. 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 posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The business had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business earned ($0.32) earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Tony West sold 23,404 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now directly owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the sale, the chief financial officer now directly owns 21,063 shares of the company’s stock, valued at $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,904 shares of company stock valued at $6,027,619 over the last ninety days. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors have recently made changes to their positions in UBER. Avion Wealth boosted its stake in shares of Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Uber Technologies in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the fourth quarter valued at about $27,000. Kozak & Associates Inc. grew its position in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the first quarter valued at about $27,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.