Uber Technologies (NYSE:UBER – Free Report) had its price objective hoisted by Wells Fargo & Company from $53.00 to $59.00 in a research note released on Thursday morning, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the ride-sharing company’s stock.

Several other research analysts have also recently weighed in on UBER. Mizuho boosted their price target on shares of Uber Technologies from $60.00 to $63.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. The Goldman Sachs Group boosted their price target on shares of Uber Technologies from $48.00 to $57.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Barclays boosted their price target on shares of Uber Technologies from $57.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, August 2nd. Citigroup boosted their price target on shares of Uber Technologies from $57.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Finally, Oppenheimer boosted their price target on shares of Uber Technologies from $55.00 to $65.00 in a report on Wednesday, June 21st. Thirty-one analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Uber Technologies currently has an average rating of Buy and an average price target of $55.52.

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Uber Technologies Stock Performance

Shares of NYSE UBER traded up $0.28 during mid-day trading on Thursday, reaching $44.25. 9,491,317 shares of the company’s stock traded hands, compared to its average volume of 23,856,736. The business has a 50-day simple moving average of $44.51 and a 200 day simple moving average of $37.82. Uber Technologies has a 1-year low of $22.94 and a 1-year high of $49.49. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.98.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The ride-sharing company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.19. The firm had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $9.34 billion. Uber Technologies had a negative net margin of 1.07% and a negative return on equity of 4.57%. The business’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned ($1.33) earnings per share. As a group, sell-side analysts anticipate that Uber Technologies will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 100,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total value of $4,751,000.00. Following the completion of the sale, the chief executive officer now owns 1,316,243 shares of the company’s stock, valued at approximately $62,534,704.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dara Khosrowshahi sold 100,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $47.51, for a total transaction of $4,751,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,316,243 shares in the company, valued at $62,534,704.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 16,664 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $42.00, for a total value of $699,888.00. Following the transaction, the insider now owns 164,693 shares of the company’s stock, valued at approximately $6,917,106. The disclosure for this sale can be found here. Insiders sold a total of 225,642 shares of company stock valued at $10,325,237 in the last quarter. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Uber Technologies by 84,122.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 123,555,492 shares of the ride-sharing company’s stock worth $5,333,891,000 after acquiring an additional 123,408,790 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Uber Technologies by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 89,767,050 shares of the ride-sharing company’s stock valued at $3,202,889,000 after purchasing an additional 1,368,569 shares during the period. Capital World Investors grew its stake in shares of Uber Technologies by 0.5% during the 2nd quarter. Capital World Investors now owns 44,391,153 shares of the ride-sharing company’s stock valued at $1,916,366,000 after acquiring an additional 200,322 shares during the period. Altimeter Capital Management LP grew its stake in shares of Uber Technologies by 167.5% during the 1st quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock valued at $1,193,422,000 after acquiring an additional 19,260,000 shares during the period. Finally, Norges Bank purchased a new position in Uber Technologies in the 4th quarter worth approximately $580,568,000. Hedge funds and other institutional investors own 73.90% of the company’s stock.

Uber Technologies Company Profile

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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.

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