Uber Technologies (NYSE:UBER) Trading Up 1.3% - Here's What Happened

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price traded up 1.3% during trading on Wednesday . The stock traded as high as $84.71 and last traded at $83.58. 7,608,909 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 23,355,283 shares. The stock had previously closed at $82.53.

Analysts Set New Price Targets

Several research firms have recently weighed in on UBER. Loop Capital reiterated a "buy" rating and issued a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target on Uber Technologies from $92.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Bank of America increased their price target on Uber Technologies from $96.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $80.00 price objective on shares of Uber Technologies in a report on Wednesday, April 16th. Finally, TD Cowen reduced their price objective on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.91.

Uber Technologies Price Performance

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 company has a market cap of $176.96 billion, a P/E ratio of 18.56, a PEG ratio of 0.89 and a beta of 1.38. The company has a fifty day moving average price of $79.90 and a two-hundred day moving average price of $73.24.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the company posted ($0.32) earnings per share. Uber Technologies's quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the sale, the chief financial officer now directly owns 21,063 shares in the company, valued at $1,790,355. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the insider now owns 102,135 shares of the company's stock, 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. Over the last 90 days, insiders sold 83,788 shares of company stock worth $6,517,070. Company insiders own 3.84% of the company's stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position 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 valued at $13,590,287,000 after buying an additional 5,759,353 shares in the last quarter. Capital Research Global Investors raised its position 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 valued at $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $2,621,929,000 after buying an additional 1,061,088 shares in the last quarter. Capital World Investors raised its position 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 valued at $1,831,021,000 after buying an additional 2,792,039 shares in the last quarter. Finally, Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies in the first quarter valued at approximately $2,207,743,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.