Uber Technologies (NYSE:UBER) Stock Price Up 1.2% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares shot up 1.2% during mid-day trading on Monday . The stock traded as high as $73.65 and last traded at $73.18. 2,788,029 shares were traded during mid-day trading, a decline of 86% from the average session volume of 20,311,314 shares. The stock had previously closed at $72.28.

Analyst Ratings Changes

A number of analysts have recently issued reports on UBER shares. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Evercore ISI decreased their price objective on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. TD Cowen dropped their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, DA Davidson dropped their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Ten research 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 company. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $89.97.

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 firm has a market cap of $153.60 billion, a PE ratio of 16.10, a PEG ratio of 0.89 and a beta of 1.37. The business has a 50-day simple moving average of $73.94 and a 200 day simple moving average of $71.44.

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

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares in the company, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now owns 86,973 shares in the company, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 over the last 90 days. Corporate insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in UBER. Avion Wealth grew its holdings in Uber Technologies by 96.0% during the 4th 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 purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies during the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies in the fourth quarter worth approximately $28,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.