Uber Technologies (NYSE:UBER) Shares Up 1.1% - Here's What Happened

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price shot up 1.1% during mid-day trading on Friday . The stock traded as high as $85.37 and last traded at $84.39. 4,995,406 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 20,765,247 shares. The stock had previously closed at $83.44.

Analyst Ratings Changes

Several research firms have recently issued reports on UBER. UBS Group increased their price objective on shares of Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a report on Thursday, May 8th. KGI Securities reiterated a "neutral" rating and issued a $78.00 price objective on shares of Uber Technologies in a report on Tuesday, March 11th. Stifel Nicolaus began coverage on shares of Uber Technologies in a report on Wednesday, June 11th. They issued a "buy" rating and a $110.00 price objective for the company. Wall Street Zen upgraded shares of Uber Technologies from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Finally, Bank of America increased their price objective on shares of Uber Technologies from $96.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.39.

Uber Technologies Trading Up 1.5%

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market cap of $177.08 billion, a PE ratio of 14.85, a P/E/G ratio of 1.06 and a beta of 1.38. The business's 50-day simple moving average is $83.30 and its 200-day simple moving average is $74.30.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.32) EPS. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction dated Monday, May 12th. The shares were 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 now directly owns 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Uber Technologies by 2.5% in 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 acquiring an additional 1,061,088 shares during the last quarter. Capital World Investors raised its stake in shares of 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 last quarter. Finally, Pershing Square Capital Management L.P. bought a new position in shares of Uber Technologies in the first quarter worth about $2,207,743,000. 80.24% of the stock is owned by institutional investors.

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.

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