Uber Technologies (NYSE:UBER) Shares Down 1.7%

Uber Technologies, Inc. (NYSE:UBER)’s share price fell 1.7% on Wednesday . The company traded as low as $67.76 and last traded at $67.80. 1,942,133 shares were traded during mid-day trading, a decline of 89% from the average session volume of 18,236,760 shares. The stock had previously closed at $68.99.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent research reports. Cantor Fitzgerald began coverage on shares of Uber Technologies in a research note on Thursday, September 5th. They issued an “overweight” rating and a $90.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $69.39 and a 200 day moving average price of $71.03. The company has a market capitalization of $143.05 billion, a P/E ratio of 109.82, a P/E/G ratio of 1.25 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the previous year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Uber Technologies

Several hedge funds have recently added to or reduced their stakes in UBER. Wealthspire Advisors LLC raised its holdings in Uber Technologies by 0.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock valued at $1,809,000 after acquiring an additional 151 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in Uber Technologies by 2.9% in the 4th quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after acquiring an additional 157 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Uber Technologies by 3.3% in the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after acquiring an additional 157 shares in the last quarter. Wellington Shields Capital Management LLC raised its holdings in Uber Technologies by 6.1% in the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $212,000 after acquiring an additional 159 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in Uber Technologies by 3.2% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock valued at $398,000 after acquiring an additional 160 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.