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

Uber Technologies, Inc. (NYSE:UBER)’s share price was up 3% during mid-day trading on Thursday . The stock traded as high as $75.12 and last traded at $75.28. Approximately 5,911,517 shares traded hands during trading, a decline of 71% from the average daily volume of 20,291,492 shares. The stock had previously closed at $73.06.

Analyst Ratings Changes

UBER has been the topic of several research analyst reports. Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. UBS Group reissued a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Uber Technologies in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $89.81.

Uber Technologies Stock Up 3.6 %

The firm has a market capitalization of $158.32 billion, a P/E ratio of 16.60, a P/E/G ratio of 0.89 and a beta of 1.37. 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’s 50-day simple moving average is $74.16 and its two-hundred day simple moving average is $71.45.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping 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%. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, insider Tony West sold 23,404 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This represents a 17.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction on 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 sale, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Uber Technologies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after acquiring an additional 2,364,525 shares in the last quarter. Capital Research Global Investors raised its holdings in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC boosted its stake in Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after buying an additional 1,061,088 shares during the last quarter. Capital World Investors grew its position in Uber Technologies by 10.1% in the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after acquiring an additional 2,792,039 shares during the period. Finally, Jennison Associates LLC increased its stake in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares during the last quarter. 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.