Uber Technologies (NYSE:UBER) Trading 1.5% Higher - Here's Why

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) were up 1.5% during trading on Friday . The stock traded as high as $94.11 and last traded at $93.46. Approximately 8,112,562 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 21,089,075 shares. The stock had previously closed at $92.05.

Wall Street Analyst Weigh In

UBER has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Citigroup raised their target price on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Uber Technologies from a "hold" rating to a "buy" rating in a report on Sunday, June 15th. Barclays upped their target price on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, May 7th. Twelve analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $94.85.

Uber Technologies Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock's 50 day moving average price is $86.59 and its two-hundred day moving average price is $76.09. The stock has a market cap of $195.43 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.17 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business had revenue of $11.53 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business posted ($0.32) EPS. The company's revenue was up 13.8% on a year-over-year basis. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Transce3nd LLC acquired a new position in shares of Uber Technologies during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the fourth quarter valued at approximately $27,000. Kozak & Associates Inc. boosted its holdings in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the 1st quarter worth approximately $27,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Uber Technologies during the first quarter worth $27,000. 80.24% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.