Uber Technologies (NYSE:UBER) Trading Up 1.2% – Time to Buy?

Uber Technologies, Inc. (NYSE:UBER)’s share price shot up 1.2% on Tuesday . The company traded as high as $88.44 and last traded at $87.6430. 18,890,329 shares changed hands during trading, a decline of 8% from the average session volume of 20,626,150 shares. The stock had previously closed at $86.57.

Wall Street Analyst Weigh In

UBER has been the topic of several research reports. Raymond James Financial lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 7th. Wells Fargo & Company reduced their price objective on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. DA Davidson upped their price objective on Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Guggenheim reduced their price target on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, BTIG Research restated a “buy” rating and issued a $100.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $108.26.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $182.11 billion, a PE ratio of 11.27 and a beta of 1.19. The firm has a fifty day moving average price of $93.42 and a two-hundred day moving average price of $91.87.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the transaction, the chief executive officer owned 982,544 shares in the company, valued at $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 567,625 shares of company stock worth $55,385,660. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Uber Technologies by 0.7% during the third quarter. Vanguard Group Inc. now owns 190,828,841 shares of the ride-sharing company’s stock valued at $18,695,502,000 after buying an additional 1,277,322 shares during the period. Geode Capital Management LLC boosted its position in Uber Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock valued at $4,258,756,000 after acquiring an additional 1,168,288 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter valued at $2,207,743,000. Norges Bank bought a new position in shares of Uber Technologies in the 2nd quarter worth $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC raised its position in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. 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.