Uber Technologies (NYSE:UBER) Trading Up 3.1% - Here's Why

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price shot up 3.1% during trading on Thursday . The stock traded as high as $76.47 and last traded at $76.05. 3,975,995 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 20,280,163 shares. The stock had previously closed at $73.77.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on UBER shares. KGI Securities restated a "neutral" rating and set a $78.00 price objective on shares of Uber Technologies in a research report on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on shares of Uber Technologies from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. TD Cowen dropped their price target on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reissued a "buy" rating and set a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of "Moderate Buy" and an average price target of $89.81.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a market capitalization of $162.62 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.89 and a beta of 1.37. The stock's 50 day simple moving average is $73.60 and its 200-day simple moving average is $71.46.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results 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 net margin of 22.41% and a return on equity of 62.60%. On average, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company's stock, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 23,404 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the transaction, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock valued at $5,793,869 over the last quarter. Insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently made changes to their positions in the business. Polianta Ltd acquired a new stake in shares of Uber Technologies in the fourth quarter worth $1,206,000. Allworth Financial LP grew its position in Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company's stock worth $1,229,000 after purchasing an additional 1,663 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Uber Technologies during the 4th quarter worth about $3,188,000. Mirador Capital Partners LP raised its position in shares of Uber Technologies by 40.4% during the fourth quarter. Mirador Capital Partners LP now owns 85,214 shares of the ride-sharing company's stock valued at $5,140,000 after buying an additional 24,520 shares during the last quarter. Finally, Tri Ri Asset Management Corp bought a new stake in shares of Uber Technologies in the third quarter valued at about $8,243,000. 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.