Uber Technologies (NYSE:UBER) Shares Down 1.6%

Uber Technologies, Inc. (NYSE:UBER) shares dropped 1.6% during mid-day trading on Thursday . The stock traded as low as $68.96 and last traded at $68.96. Approximately 3,890,056 shares were traded during trading, a decline of 79% from the average daily volume of 18,227,572 shares. The stock had previously closed at $70.11.

Analyst Upgrades and Downgrades

UBER has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, June 5th. TD Cowen raised their price target on Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. BMO Capital Markets restated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research report on Tuesday, July 30th. Melius Research began coverage on Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Stock Performance

The stock has a market cap of $143.36 billion, a P/E ratio of 111.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $69.45 and a two-hundred day moving average price of $71.05.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in UBER. Aptus Capital Advisors LLC raised its position in Uber Technologies by 17.1% during the second quarter. Aptus Capital Advisors LLC now owns 9,468 shares of the ride-sharing company’s stock valued at $688,000 after purchasing an additional 1,383 shares during the period. US Bancorp DE raised its position in Uber Technologies by 2.5% during the fourth quarter. US Bancorp DE now owns 995,783 shares of the ride-sharing company’s stock valued at $61,310,000 after purchasing an additional 24,059 shares during the period. Brookstone Capital Management raised its position in Uber Technologies by 19.0% during the second quarter. Brookstone Capital Management now owns 161,494 shares of the ride-sharing company’s stock valued at $11,082,000 after purchasing an additional 25,814 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of Uber Technologies by 26.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 41,254 shares of the ride-sharing company’s stock valued at $2,998,000 after buying an additional 8,614 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of 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 buying an additional 6,426 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.