Uber Technologies (NYSE:UBER) Trading Down 0.2%

Uber Technologies, Inc. (NYSE:UBER) shares were down 0.2% on Wednesday . The company traded as low as $72.19 and last traded at $72.60. Approximately 1,443,340 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 18,216,781 shares. The stock had previously closed at $72.78.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UBER shares. Piper Sandler boosted their price objective on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Wolfe Research started coverage on shares of Uber Technologies in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 price objective for the company. Bank of America restated a “buy” rating and set a $88.00 price target on shares of Uber Technologies in a research note on Friday, August 23rd. Cantor Fitzgerald started coverage on shares of Uber Technologies in a report on Thursday, September 5th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $97.00 price target on shares of Uber Technologies in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Uber Technologies Trading Up 1.1 %

The stock’s fifty day moving average price is $69.45 and its 200 day moving average price is $70.77. The stock has a market cap of $153.77 billion, a P/E ratio of 117.85, a PEG ratio of 1.21 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that Uber Technologies, Inc. will post 1.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. raised its holdings in Uber Technologies by 31.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 30,634 shares of the ride-sharing company’s stock worth $2,226,000 after purchasing an additional 7,399 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of Uber Technologies by 2.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 21,582 shares of the ride-sharing company’s stock valued at $1,569,000 after buying an additional 578 shares in the last quarter. Lazari Capital Management Inc. increased its stake in Uber Technologies by 0.5% in the 2nd quarter. Lazari Capital Management Inc. now owns 200,515 shares of the ride-sharing company’s stock worth $14,573,000 after buying an additional 915 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Uber Technologies in the second quarter worth about $13,836,000. Finally, Souders Financial Advisors lifted its holdings in Uber Technologies by 60.1% in the 2nd quarter. Souders Financial Advisors now owns 17,030 shares of the ride-sharing company’s stock worth $1,238,000 after purchasing an additional 6,396 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.