Uber Technologies (NYSE:UBER) Trading 3.3% Higher - Here's What Happened

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares rose 3.3% during mid-day trading on Monday . The stock traded as high as $84.72 and last traded at $85.55. Approximately 9,779,477 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 20,117,217 shares. The stock had previously closed at $82.81.

Analyst Upgrades and Downgrades

UBER has been the topic of several research reports. UBS Group boosted their target price on Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a research note on Thursday. JMP Securities restated a "market perform" rating on shares of Uber Technologies in a research report on Thursday, February 6th. Piper Sandler restated an "overweight" rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on Uber Technologies from $80.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Wedbush downgraded Uber Technologies from an "outperform" rating to a "neutral" rating and increased their target price for the stock from $80.00 to $85.00 in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.69.

Uber Technologies Stock Up 6.4%

The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $74.72 and a 200 day simple moving average of $71.48. The firm has a market capitalization of $184.23 billion, a PE ratio of 19.32, a PEG ratio of 0.89 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced 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. The business had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.32) EPS. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company's stock, valued at $1,662,150. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony West sold 23,404 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,904 shares of company stock worth $6,027,619 over the last three months. Company insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mizuho Markets Americas LLC increased its stake in Uber Technologies by 280.2% during the 1st quarter. Mizuho Markets Americas LLC now owns 421,000 shares of the ride-sharing company's stock valued at $30,674,000 after purchasing an additional 310,271 shares in the last quarter. Pandora Wealth Inc. bought a new stake in Uber Technologies during the 1st quarter valued at about $197,000. Fiduciary Family Office LLC bought a new stake in Uber Technologies during the 1st quarter valued at about $872,000. Manhattan West Asset Management LLC increased its stake in Uber Technologies by 97.2% during the 1st quarter. Manhattan West Asset Management LLC now owns 50,654 shares of the ride-sharing company's stock valued at $3,691,000 after purchasing an additional 24,971 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Uber Technologies by 37.8% during the 1st quarter. Benjamin Edwards Inc. now owns 47,352 shares of the ride-sharing company's stock valued at $3,450,000 after purchasing an additional 12,984 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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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