Uber Technologies (NYSE:UBER) Trading Up 1.6% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares rose 1.6% during trading on Thursday . The company traded as high as $85.75 and last traded at $85.47. Approximately 22,641,663 shares were traded during trading, an increase of 10% from the average daily volume of 20,634,525 shares. The stock had previously closed at $84.16.

Analyst Ratings Changes

A number of brokerages recently issued reports on UBER. The Goldman Sachs Group reiterated a “buy” rating on shares of Uber Technologies in a research report on Wednesday, November 5th. Barclays lowered their price target on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Uber Technologies in a report on Wednesday, November 5th. BMO Capital Markets lowered their target price on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Uber Technologies Price Performance

The firm’s 50 day simple moving average is $91.78 and its two-hundred day simple moving average is $91.76. 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 firm has a market capitalization of $176.88 billion, a P/E ratio of 10.94 and a beta of 1.19.

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

Insider Buying and Selling

In related news, insider Tony West sold 100,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 267,625 shares of company stock valued at $26,774,660 over the last three months. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC bought a new position in Uber Technologies in the third quarter worth about $25,000. Kilter Group LLC purchased a new position in Uber Technologies during the second quarter valued at $26,000. Westend Capital Management LLC bought a new stake in shares of Uber Technologies during the 3rd quarter valued at $27,000. West Oak Capital LLC purchased a new stake in shares of Uber Technologies in the 2nd quarter worth about $28,000. Finally, Truvestments Capital LLC increased its stake in shares of Uber Technologies by 498.5% in the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after acquiring an additional 339 shares in the last quarter. Hedge funds and other institutional investors 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.