Short Interest in Uber Technologies, Inc. (NYSE:UBER) Drops By 15.7%

Uber Technologies, Inc. (NYSE:UBER) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 52,340,000 shares, a drop of 15.7% from the December 15th total of 62,100,000 shares. Based on an average daily trading volume, of 24,050,000 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James initiated coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price target on the stock. JMP Securities cut shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a report on Thursday, January 2nd. Evercore ISI raised their price target on Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. Finally, DA Davidson raised their target price on Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ascent Wealth Partners LLC bought a new position in Uber Technologies in the 3rd quarter worth $2,087,000. Teachers Retirement System of The State of Kentucky raised its stake in Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after buying an additional 13,433 shares in the last quarter. Aviso Wealth Management purchased a new stake in Uber Technologies in the third quarter worth about $2,302,000. Brophy Wealth Management LLC bought a new stake in Uber Technologies during the 3rd quarter valued at approximately $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Uber Technologies by 9.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock worth $432,356,000 after acquiring an additional 512,591 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Trading Up 2.3 %

Shares of UBER stock traded up $1.56 during mid-day trading on Thursday, reaching $68.58. The stock had a trading volume of 28,985,604 shares, compared to its average volume of 27,941,891. The firm has a market capitalization of $144.41 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. The stock’s 50-day moving average price is $66.34 and its two-hundred day moving average price is $70.39. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. Uber Technologies has a 52-week low of $54.84 and a 52-week high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. Equities analysts expect that Uber Technologies will post 1.9 earnings per share for the current fiscal year.

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.