Uber Technologies (NYSE:UBER) Trading Up 1.5% – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) traded up 1.5% on Thursday . The company traded as high as $75.54 and last traded at $75.32. 3,776,339 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 19,608,414 shares. The stock had previously closed at $74.18.

Analyst Ratings Changes

Several brokerages recently weighed in on UBER. Benchmark restated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

Uber Technologies Stock Performance

The business has a 50-day moving average of $73.44 and a two-hundred day moving average of $71.73. 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 company has a market cap of $151.89 billion, a P/E ratio of 15.94, a P/E/G ratio of 0.89 and a beta of 1.39.

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

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction 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 directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock valued at $5,793,869 in the last three months. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently modified their holdings of UBER. Capital Research Global Investors grew its holdings in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Norges Bank acquired a new stake in shares of Uber Technologies during the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC increased its holdings in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners acquired a new position in shares of Uber Technologies in the 4th quarter valued at $381,057,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Uber Technologies by 670.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after buying an additional 5,753,637 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.