Uber Technologies (NYSE:UBER) Stock Price Up 1.3% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price rose 1.3% during mid-day trading on Friday . The company traded as high as $66.21 and last traded at $65.78. Approximately 10,741,521 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 25,969,965 shares. The stock had previously closed at $64.91.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on UBER shares. Raymond James began coverage on Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target for the company. Truist Financial lowered their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. DA Davidson raised their price objective on Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Gordon Haskett upgraded Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $138.89 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. The company has a 50 day moving average price of $66.91 and a 200-day moving average price of $70.52.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of UBER. Ameriprise Financial Inc. increased its stake in shares of Uber Technologies by 36.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after acquiring an additional 3,179,308 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. AMF Tjanstepension AB bought a new position in shares of Uber Technologies during the 3rd quarter worth about $163,468,000. Nordea Investment Management AB grew its stake in shares of Uber Technologies by 1,370.1% in the 4th quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after buying an additional 2,064,382 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after buying an additional 2,056,273 shares during the period. Institutional investors and hedge funds 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.