Uber Technologies (NYSE:UBER) Trading 2.7% Higher - Here's What Happened

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price traded up 2.7% during mid-day trading on Friday . The company traded as high as $71.68 and last traded at $71.38. 3,665,582 shares traded hands during trading, a decline of 81% from the average session volume of 19,521,735 shares. The stock had previously closed at $69.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Uber Technologies from $90.00 to $87.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Wolfe Research increased their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Tigress Financial increased their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $82.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Ten 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $90.31.

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Uber Technologies Stock Up 3.0 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The stock has a market capitalization of $149.60 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 0.89 and a beta of 1.39. The firm's fifty day simple moving average is $71.71 and its 200 day simple moving average is $71.57.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock worth $10,903,846,000 after buying an additional 2,364,525 shares during the last quarter. Capital Research Global Investors increased its holdings in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the last quarter. Geode Capital Management LLC increased its holdings in Uber Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock worth $2,621,929,000 after buying an additional 1,061,088 shares during the last quarter. Capital World Investors boosted its position in Uber Technologies by 10.1% during the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock worth $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Finally, Edgewood Management LLC boosted its position in Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company's stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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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