Uber Technologies (NYSE:UBER) Trading Up 3.9% – What’s Next?

Shares of Uber Technologies, Inc. (NYSE:UBER) rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $70.07 and last traded at $68.23. Approximately 7,204,021 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 20,176,285 shares. The stock had previously closed at $65.64.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, February 5th. Evercore ISI dropped their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, DA Davidson decreased their target price on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

Uber Technologies Stock Performance

The stock has a market capitalization of $134.74 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.89 and a beta of 1.37. 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 firm has a 50-day moving average of $73.68 and a 200-day moving average of $71.67.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, sell-side analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the sale, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds have recently made changes to their positions in the company. Meyer Handelman Co. lifted its position in Uber Technologies by 10.4% during the first quarter. Meyer Handelman Co. now owns 18,870 shares of the ride-sharing company’s stock worth $1,375,000 after buying an additional 1,770 shares in the last quarter. Boit C F David purchased a new position in shares of Uber Technologies during the 1st quarter worth $73,000. Beese Fulmer Investment Management Inc. acquired a new position in shares of Uber Technologies during the 1st quarter valued at about $203,000. BTC Capital Management Inc. grew its holdings in shares of Uber Technologies by 13.6% in the first quarter. BTC Capital Management Inc. now owns 11,253 shares of the ride-sharing company’s stock valued at $820,000 after purchasing an additional 1,350 shares during the period. Finally, Andrew Hill Investment Advisors Inc. acquired a new stake in Uber Technologies during the first quarter worth about $2,295,000. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.