Uber Technologies (NYSE:UBER) Stock Price Down 4% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares dropped 4% on Monday . The company traded as low as $72.15 and last traded at $73.23. Approximately 6,968,735 shares were traded during trading, a decline of 64% from the average daily volume of 19,446,306 shares. The stock had previously closed at $76.27.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Uber Technologies Price Performance

The company has a fifty day simple moving average of $71.37 and a two-hundred day simple moving average of $71.59. The stock has a market capitalization of $147.31 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its stake in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Norges Bank bought a new position in shares of Uber Technologies in the fourth quarter worth about $1,467,754,000. Jennison Associates LLC boosted its stake in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners bought a new stake in shares of Uber Technologies during the 4th quarter valued at approximately $381,057,000. Finally, Assenagon Asset Management S.A. increased its position in Uber Technologies by 670.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. 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.