Uber Technologies (NYSE:UBER) Trading Down 4.3% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price fell 4.3% during mid-day trading on Wednesday . The stock traded as low as $61.57 and last traded at $62.16. 15,982,340 shares changed hands during trading, a decline of 14% from the average session volume of 18,539,748 shares. The stock had previously closed at $64.96.

Analysts Set New Price Targets

A number of research firms recently commented on UBER. KeyCorp dropped their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Loop Capital raised their price target on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Bank of America upped their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and set a $95.00 target price on shares of Uber Technologies in a report on Wednesday, December 4th. Finally, Tigress Financial upped their price target on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $90.51.

Uber Technologies Price Performance

The stock has a market capitalization of $129.44 billion, a P/E ratio of 30.93, a PEG ratio of 0.82 and a beta of 1.33. The company’s 50 day simple moving average is $74.29 and its two-hundred day simple moving average is $71.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. As a group, equities analysts expect that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. boosted its stake in shares of Uber Technologies by 30.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 32,105 shares of the ride-sharing company’s stock valued at $2,413,000 after purchasing an additional 7,500 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in Uber Technologies in the third quarter valued at approximately $8,243,000. Peapack Gladstone Financial Corp grew its holdings in Uber Technologies by 30.9% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 6,562 shares of the ride-sharing company’s stock worth $494,000 after acquiring an additional 1,550 shares during the period. Synovus Financial Corp raised its position in shares of Uber Technologies by 26.1% during the 3rd quarter. Synovus Financial Corp now owns 17,499 shares of the ride-sharing company’s stock valued at $1,315,000 after acquiring an additional 3,622 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Uber Technologies by 64.6% in the 3rd quarter. Tidal Investments LLC now owns 328,110 shares of the ride-sharing company’s stock valued at $24,661,000 after purchasing an additional 128,739 shares during the period. 80.24% of the stock is owned by institutional investors.

Uber Technologies Company Profile

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.