Uber Technologies (NYSE:UBER) Shares Gap Up to $58.48

Shares of Uber Technologies, Inc. (NYSE:UBER) gapped up before the market opened on Tuesday . The stock had previously closed at $58.48, but opened at $62.55. Uber Technologies shares last traded at $60.82, with a volume of 3,599,978 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UBER shares. Roth Mkm reiterated a “buy” rating and issued a $89.00 price objective (down from $91.00) on shares of Uber Technologies in a research note on Friday, May 10th. Jefferies Financial Group lowered their price target on Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Melius Research began coverage on Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price target on the stock. Loop Capital decreased their target price on Uber Technologies from $88.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Finally, Moffett Nathanson restated a “buy” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.76.

Uber Technologies Stock Performance

The company has a 50-day simple moving average of $68.25 and a two-hundred day simple moving average of $70.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $135.80 billion, a P/E ratio of 103.53, a PEG ratio of 1.32 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The firm had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter last year, the company posted ($0.08) EPS. Uber Technologies’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that Uber Technologies, Inc. will post 0.84 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the sale, the insider now directly owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at $91,046,257.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total transaction of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares in the company, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,135,984 shares of company stock worth $78,213,297. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Hedge funds have recently bought and sold shares of the stock. PFG Investments LLC grew its holdings in Uber Technologies by 374.6% during the 1st quarter. PFG Investments LLC now owns 63,450 shares of the ride-sharing company’s stock valued at $4,885,000 after buying an additional 50,080 shares in the last quarter. US Bancorp DE boosted its position in shares of Uber Technologies by 2.5% during the 4th quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock valued at $61,310,000 after acquiring an additional 24,059 shares during the last quarter. SVB Wealth LLC grew its holdings in shares of Uber Technologies by 28.1% in the fourth quarter. SVB Wealth LLC now owns 51,341 shares of the ride-sharing company’s stock valued at $3,161,000 after purchasing an additional 11,269 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Uber Technologies during the fourth quarter valued at $7,659,000. Finally, CIBC Private Wealth Group LLC raised its stake in Uber Technologies by 70.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 15,568 shares of the ride-sharing company’s stock valued at $959,000 after purchasing an additional 6,426 shares in the last quarter. 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.