Short Interest in Uber Technologies, Inc. (NYSE:UBER) Drops By 15.7%

Uber Technologies, Inc. (NYSE:UBER) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 52,340,000 shares, a drop of 15.7% from the December 15th total of 62,100,000 shares. Based on an average daily trading volume, of 24,050,000 shares, the days-to-cover ratio is currently 2.2 days.

Analysts Set New Price Targets

UBER has been the topic of several recent research reports. UBS Group upped their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI raised their price target on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Oppenheimer lifted their price target on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Wells Fargo & Company cut their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Wolfe Research lifted their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UBER. Kieckhefer Group LLC purchased a new position in shares of Uber Technologies in the fourth quarter valued at about $33,000. Retirement Wealth Solutions LLC bought a new stake in Uber Technologies during the 4th quarter valued at approximately $35,000. Financial Management Professionals Inc. lifted its holdings in Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Transcendent Capital Group LLC boosted its stake in Uber Technologies by 3,928.6% in the 3rd quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 550 shares during the period. Finally, Fortitude Family Office LLC boosted its position in shares of Uber Technologies by 84.7% during the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Shares of UBER stock traded up $1.56 during trading hours on Thursday, reaching $68.58. 28,985,604 shares of the company traded hands, compared to its average volume of 27,941,891. The firm has a 50-day moving average price of $66.34 and a 200 day moving average price of $70.39. The company has a market cap of $144.41 billion, a P/E ratio of 34.12, a P/E/G ratio of 0.71 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. Uber Technologies has a 12-month low of $54.84 and a 12-month high of $87.00.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts predict that Uber Technologies will post 1.9 earnings per share for the current fiscal year.

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.