Uber Technologies (NYSE:UBER) Trading 0.6% Higher – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price traded up 0.6% during trading on Tuesday . The stock traded as high as $68.84 and last traded at $66.68. 14,080,500 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 24,785,389 shares. The stock had previously closed at $66.31.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UBER shares. Loop Capital lifted their target price on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. UBS Group lifted their price target on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Oppenheimer increased their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Uber Technologies Price Performance

The firm has a market cap of $139.97 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 0.75 and a beta of 1.36. The stock’s fifty day moving average price is $67.75 and its 200-day moving average price is $70.66. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter last year, the company earned $0.10 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ascent Wealth Partners LLC purchased a new stake in Uber Technologies in the 3rd quarter valued at approximately $2,087,000. Teachers Retirement System of The State of Kentucky raised its position in Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after acquiring an additional 13,433 shares in the last quarter. Aviso Wealth Management purchased a new stake in shares of Uber Technologies during the 3rd quarter worth $2,302,000. Brophy Wealth Management LLC acquired a new position in shares of Uber Technologies during the 3rd quarter worth $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Uber Technologies by 9.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock valued at $432,356,000 after purchasing an additional 512,591 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other 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.