Uber Technologies (NYSE:UBER) Shares Down 0.8% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 0.8% during trading on Thursday . The company traded as low as $71.90 and last traded at $72.28. Approximately 2,603,524 shares were traded during trading, a decline of 85% from the average daily volume of 17,904,061 shares. The stock had previously closed at $72.87.

Wall Street Analyst Weigh In

UBER has been the topic of several recent research reports. JMP Securities upped their target price on shares of Uber Technologies from $75.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Monday, September 30th. The Goldman Sachs Group increased their price objective on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company reissued an “overweight” rating and set a $97.00 target price on shares of Uber Technologies in a research note on Friday, September 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.81.

Uber Technologies Price Performance

The company has a market capitalization of $155.99 billion, a price-to-earnings ratio of 119.76, a PEG ratio of 1.32 and a beta of 1.33. 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’s 50 day simple moving average is $71.02 and its 200-day simple moving average is $70.58.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. Uber Technologies’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. On average, equities research analysts predict that Uber Technologies, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at $9,169,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,266,114 shares in the company, valued at $91,046,257.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently added to or reduced their stakes in the stock. Mirador Capital Partners LP grew its holdings in Uber Technologies by 4.0% during the 3rd quarter. Mirador Capital Partners LP now owns 60,694 shares of the ride-sharing company’s stock valued at $4,562,000 after purchasing an additional 2,351 shares in the last quarter. Biltmore Wealth Management LLC acquired a new position in shares of Uber Technologies in the third quarter worth about $216,000. Peoples Bank KS acquired a new position in shares of Uber Technologies in the third quarter worth about $379,000. HBW Advisory Services LLC boosted its holdings in Uber Technologies by 5.5% in the third quarter. HBW Advisory Services LLC now owns 4,972 shares of the ride-sharing company’s stock valued at $374,000 after purchasing an additional 261 shares during the last quarter. Finally, MRA Advisory Group acquired a new stake in Uber Technologies during the 3rd quarter valued at approximately $214,000. 80.24% of the stock is currently 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.