Uber Technologies (NYSE:UBER) Trading Down 1.2% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded down 1.2% during mid-day trading on Friday . The stock traded as low as $60.50 and last traded at $60.67. 8,994,130 shares changed hands during trading, a decline of 52% from the average session volume of 18,848,064 shares. The stock had previously closed at $61.41.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UBER shares. Jefferies Financial Group lifted their target price on Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial raised their price target on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday, November 25th. Bank of America boosted their price objective on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company cut their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned 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 a consensus price target of $90.51.

Uber Technologies Trading Down 2.4 %

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $126.20 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The business has a fifty day moving average price of $73.54 and a 200 day moving average price of $71.32.

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

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CENTRAL TRUST Co increased its holdings in Uber Technologies by 12.3% during the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock worth $87,000 after buying an additional 127 shares during the last quarter. Procyon Advisors LLC increased its stake in shares of Uber Technologies by 2.1% during the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after purchasing an additional 131 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of Uber Technologies by 21.4% in the 3rd quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after purchasing an additional 145 shares during the period. Jmac Enterprises LLC lifted its stake in Uber Technologies by 2.1% in the 3rd quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after purchasing an additional 150 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in Uber Technologies by 0.6% during the second quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the period. Institutional investors own 80.24% of the company’s stock.

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.