Time To Buy Uber Technologies (NYSE:UBER)? BidaskScore Upgrades Shares Today

25 Novembre, 2019, 16:54 | Auteur: Auguste Feret
  • Insider Selling At Ride Hailing Companies Uber Vs. Lyft

The company traded as high as $29.60 and last traded at $29.46, 53,649,074 shares traded hands during trading. An increase of 241% from the average session volume of 15,730,174 shares. SunTrust Banks' price objective would suggest a potential upside of 89.45% from the company's previous close. The shares were sold at an average price of $27.86, for a total transaction of $295,975,836.24.

Uber's cofounder, who no longer works at the company, sold off $1.5 billion worth of the company's stock since the post-IPO lockup at the start of the November, and he offloaded over half a billion dollars in just three days, according to SEC filings. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The stock was sold at an average price of $27.01, for a total value of $410,227.88. Following the completion of the acquisition, the chief executive officer now directly owns 1,530,939 shares of the company's stock, valued at approximately $40,952,618.25. The disclosure for this purchase can be found here.

In the just over two weeks since Uber's lockup expiration, insiders have sold a total of 54.02 million shares worth roughly $1.48 billion.

A number of brokerages have recently issued reports on UBER. Evercore ISI set a $60.00 price target on shares of Uber Technologies and gave the stock a "buy" rating in a research report on Wednesday, September 18th.

Uber Technologies (NYSE:UBER) had its target price lowered by Wedbush from $58.00 to $45.00 in a report released on Tuesday, November 5th, The Fly reports. Citigroup decreased their target price on Uber Technologies from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Finally, Farmers & Merchants Investments Inc. acquired a new stake in shares of Uber Technologies during the third quarter worth $30,000. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. The stock has a fifty day moving average of $29.96. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.46.

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Uber Technologies (NYSE:UBER) last announced its earnings results on Monday, November 4th. The ride-sharing company reported ($0.68) earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of ($0.83) by $0.15. Uber Technologies had a negative return on equity of 209.48% and a negative net margin of 63.57%.

Among 14 analysts covering Uber Technologies (NYSE:UBER), 11 have Buy rating, 0 Sell and 3 Hold. Gulf International Bank UK Ltd acquired a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $2,356,000. DNB Asset Management AS acquired a new stake in Uber Technologies during the second quarter valued at approximately $1,109,000. Finally, Enlightenment Research LLC purchased a new position in shares of Uber Technologies during the 2nd quarter worth approximately $543,000. BlackRock Inc. purchased a new stake in shares of Uber Technologies during the 2nd quarter valued at $1,020,876,000. Westpac Banking Corp bought a new position in shares of Uber Technologies in the second quarter worth about $690,000.

Kalanick still owns nearly 45 million shares, or 2.6 percent, of the ride-hailing giant, worth more than $1.3 billion at Thursday's closing price.

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide.

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