Uber Technologies (NYSE:UBER) Stock Price Down 5.4% – Should You Sell?

Uber Technologies, Inc. (NYSE:UBER) shares were down 5.4% on Thursday . The stock traded as low as $70.25 and last traded at $70.51. Approximately 7,951,469 shares changed hands during trading, a decline of 60% from the average daily volume of 20,050,079 shares. The stock had previously closed at $74.50.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UBER. DA Davidson reduced their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Wolfe Research lifted their price target on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Truist Financial boosted their price target on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Fox Advisors cut shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.41.

Uber Technologies Price Performance

The company has a 50 day moving average price of $73.75 and a 200 day moving average price of $71.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm has a market cap of $134.92 billion, a PE ratio of 14.14, a PEG ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share 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%. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,154 shares of company stock valued at $5,793,869 over the last quarter. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avion Wealth increased its position in shares of Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 218 shares in the last quarter. Transce3nd LLC purchased a new position in Uber Technologies during the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies in the fourth quarter valued at about $28,000. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 223 shares in the last quarter. 80.24% of the stock is 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.