Uber Technologies (NYSE:UBER) Trading 2.7% Higher – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded up 2.7% on Friday . The company traded as high as $71.68 and last traded at $71.38. 3,665,582 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 19,521,735 shares. The stock had previously closed at $69.51.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Tigress Financial raised their price target on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group restated a “buy” rating and issued a $96.00 price target on shares of Uber Technologies in a report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research report on Thursday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Ten equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The business’s 50 day moving average is $71.85 and its 200-day moving average is $71.56. The stock has a market cap of $149.71 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last announced its 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.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. raised its holdings in shares of Uber Technologies by 3.0% during the 3rd quarter. Harbour Investments Inc. now owns 10,827 shares of the ride-sharing company’s stock worth $814,000 after acquiring an additional 318 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Uber Technologies during the 3rd quarter worth $683,000. Huntington National Bank raised its holdings in shares of Uber Technologies by 20.7% during the 3rd quarter. Huntington National Bank now owns 7,737 shares of the ride-sharing company’s stock worth $582,000 after acquiring an additional 1,326 shares during the period. KBC Group NV raised its holdings in shares of Uber Technologies by 27.1% during the 3rd quarter. KBC Group NV now owns 296,100 shares of the ride-sharing company’s stock worth $22,255,000 after acquiring an additional 63,214 shares during the period. Finally, Lifeworks Advisors LLC purchased a new position in shares of Uber Technologies during the 3rd quarter worth $216,000. 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.