Uber Technologies (NYSE:UBER) Trading 1.7% Higher – Here’s Why

Shares of Uber Technologies, Inc. (NYSE:UBER) rose 1.7% on Tuesday . The stock traded as high as $81.38 and last traded at $80.78. Approximately 6,424,988 shares changed hands during trading, a decline of 78% from the average daily volume of 29,562,920 shares. The stock had previously closed at $79.42.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Citigroup cut their price target on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Citizens Jmp downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Arete Research raised shares of Uber Technologies to a “hold” rating in a research report on Tuesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $87.00 target price (up from $80.00) on shares of Uber Technologies in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.91.

Uber Technologies Price Performance

The company has a fifty day simple moving average of $67.67 and a 200-day simple moving average of $71.11. The company has a market cap of $169.97 billion, a P/E ratio of 17.84, a PEG ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share 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%. On average, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Large investors have recently bought and sold shares of the business. Fourth Dimension Wealth LLC acquired a new stake in Uber Technologies in the 4th quarter worth approximately $27,000. Avion Wealth raised its holdings in Uber Technologies by 96.0% in the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Uber Technologies during the fourth quarter valued at approximately $28,000. Finally, GHP Investment Advisors Inc. lifted its position in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 223 shares during the period. 80.24% of the stock is currently owned by institutional investors.

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.