Uber Technologies (NYSE:UBER) Stock Price Up 3% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 3% on Thursday . The stock traded as high as $75.54 and last traded at $75.25. 5,098,070 shares were traded during mid-day trading, a decline of 74% from the average session volume of 19,501,073 shares. The stock had previously closed at $73.02.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UBER. Wolfe Research lifted their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

Uber Technologies Trading Up 2.1 %

The company’s fifty day simple moving average is $72.64 and its two-hundred day simple moving average is $71.59. The company has a market capitalization of $158.65 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

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

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tony West sold 23,404 shares of the business’s 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 owns 114,241 shares in the company, valued at $8,027,715.07. The trade was a 17.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,404 shares of company stock worth $5,587,619. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in Uber Technologies by 26.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 326,829 shares of the ride-sharing company’s stock worth $24,564,000 after buying an additional 68,833 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Uber Technologies by 11.5% during the third quarter. First Horizon Advisors Inc. now owns 6,290 shares of the ride-sharing company’s stock worth $473,000 after acquiring an additional 649 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Uber Technologies during the third quarter valued at approximately $327,000. Moran Wealth Management LLC grew its stake in Uber Technologies by 3.2% in the third quarter. Moran Wealth Management LLC now owns 27,970 shares of the ride-sharing company’s stock valued at $2,102,000 after purchasing an additional 871 shares in the last quarter. Finally, Cornerstone Advisors LLC acquired a new position in shares of Uber Technologies during the 3rd quarter worth approximately $1,150,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.