Investors Buy High Volume of Uber Technologies Call Options (NYSE:UBER)

Key Points

• There has been an unusually high volume of call options trading for Uber Technologies, with investors purchasing 166,222 call options—reflecting a 32% increase from the usual volume.
• Several analysts have raised their price targets for Uber, with the average target now at $100.71, indicating a consensus rating of "Moderate Buy" among the analysts.
• Uber reported earnings of $0.63 per share for the last quarter, which exceeded analysts' expectations, along with a revenue increase of 18.2% year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 166,222 call options on the stock. Thisrepresentsanincreaseof32% compared to the typical volume of 126,189 call options.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group upped their price target on Uber Technologies from $107.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. DA Davidson boosted their price target on shares of Uber Technologies from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC boosted their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Loop Capital reaffirmed a "buy" rating and set a $105.00 price target (up previously from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $100.71.

Uber Technologies Price Performance

Uber Technologies stock traded down $0.66 during mid-day trading on Wednesday, hitting $88.73. 27,667,255 shares of the company were exchanged, compared to its average volume of 22,242,900. Uber Technologies has a 12-month low of $59.33 and a 12-month high of $97.71. The company has a market capitalization of $185.54 billion, a P/E ratio of 15.44, a PEG ratio of 1.02 and a beta of 1.43. The business's 50 day simple moving average is $89.15 and its two-hundred day simple moving average is $80.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The business had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. The company's revenue was up 18.2% on a year-over-year basis. Analysts forecast that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. West Oak Capital LLC purchased a new position in shares of Uber Technologies in the 2nd quarter worth about $28,000. Trust Co. of Toledo NA OH purchased a new position in Uber Technologies in the second quarter valued at approximately $30,000. Noble Wealth Management PBC acquired a new position in Uber Technologies during the first quarter valued at approximately $27,000. Kozak & Associates Inc. grew its stake in Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares during the period. Finally, Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the first quarter worth $27,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

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.

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