Uber Technologies (NYSE:UBER) Shares Gap Down to $70.43

Uber Technologies, Inc. (NYSE:UBER)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $70.43, but opened at $64.50. Uber Technologies shares last traded at $65.48, with a volume of 27,482,467 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on UBER shares. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a report on Wednesday. Argus upped their target price on Uber Technologies from $69.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Piper Sandler lifted their price target on Uber Technologies from $78.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. UBS Group upped their price objective on Uber Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, Citigroup lifted their target price on shares of Uber Technologies from $83.00 to $91.00 and gave the company a “buy” rating in a report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.65.

Uber Technologies Stock Performance

The firm has a fifty day moving average of $75.03 and a 200 day moving average of $65.83. The stock has a market cap of $137.43 billion, a price-to-earnings ratio of 75.63, a PEG ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 1.19.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.50. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.76 billion. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 1.23 EPS for the current year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 20,000 shares of Uber Technologies stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the sale, the insider now owns 107,290 shares of the company’s stock, valued at approximately $8,350,380.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Uber Technologies news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the completion of the sale, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the transaction, the insider now owns 107,290 shares in the company, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Uber Technologies during the 3rd quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE increased its stake in Uber Technologies by 2,545.5% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 582 shares of the ride-sharing company’s stock worth $27,000 after purchasing an additional 560 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after purchasing an additional 202 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Uber Technologies by 319.4% in the third quarter. JFS Wealth Advisors LLC now owns 650 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 495 shares during the period. Finally, CVA Family Office LLC purchased a new stake in Uber Technologies during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors 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.