Uber Technologies (NYSE:UBER) Stock Price Up 0.5%

Uber Technologies, Inc. (NYSE:UBER) shot up 0.5% on Tuesday . The stock traded as high as $72.99 and last traded at $72.94. 2,098,457 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 18,678,141 shares. The stock had previously closed at $72.61.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UBER. Evercore ISI lifted their price target on Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their target price on shares of Uber Technologies from $91.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. JMP Securities raised their price target on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 7th. Loop Capital dropped their price objective on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Finally, Melius started coverage on shares of Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.50.

Uber Technologies Stock Down 0.1 %

The company has a market capitalization of $152.44 billion, a PE ratio of 117.65, a PEG ratio of 1.32 and a beta of 1.36. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $69.33 and a 200 day moving average of $71.41.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same quarter last year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that Uber Technologies, Inc. will post 1.04 EPS for the current year.

Insider Activity

In other news, insider Tony West sold 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the transaction, the insider now owns 96,945 shares of the company’s stock, valued at $6,851,103.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Uber Technologies news, insider Tony West sold 28,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now owns 96,945 shares in the company, valued at approximately $6,851,103.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 617,234 shares of company stock valued at $44,017,734. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Uber Technologies by 34.8% in the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock valued at $10,320,940,000 after acquiring an additional 43,275,830 shares during the period. Norges Bank acquired a new position in Uber Technologies in the 4th quarter valued at about $1,415,778,000. Edgewood Management LLC purchased a new stake in Uber Technologies during the 4th quarter valued at approximately $783,401,000. Price T Rowe Associates Inc. MD lifted its position in Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after acquiring an additional 9,996,508 shares during the period. Finally, GQG Partners LLC lifted its position in Uber Technologies by 74.1% during the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after acquiring an additional 9,541,366 shares during the period. Institutional investors and hedge funds 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.