Uber Technologies (NYSE:UBER) Shares Down 0.7% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $60.17 and last traded at $60.32. Approximately 14,454,703 shares traded hands during trading, a decline of 25% from the average daily volume of 19,204,439 shares. The stock had previously closed at $60.77.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Loop Capital boosted their price target on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group restated a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a report on Thursday. DA Davidson upped their target price on Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $91.47.

Uber Technologies Stock Performance

The firm has a market capitalization of $133.02 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50-day moving average price of $68.24 and a 200-day moving average price of $70.73.

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

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ascent Wealth Partners LLC bought a new position in Uber Technologies during the third quarter worth $2,087,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Uber Technologies by 4.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after buying an additional 13,433 shares during the last quarter. Aviso Wealth Management acquired a new position in shares of Uber Technologies in the 3rd quarter valued at about $2,302,000. Brophy Wealth Management LLC bought a new stake in shares of Uber Technologies during the 3rd quarter valued at about $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Uber Technologies by 9.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock worth $432,356,000 after acquiring an additional 512,591 shares during the period. Institutional investors and hedge funds 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.