Uber Technologies (NYSE:UBER) Shares Down 1.8% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price dropped 1.8% during mid-day trading on Thursday . The stock traded as low as $64.12 and last traded at $64.96. Approximately 24,485,956 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 29,452,506 shares. The stock had previously closed at $66.15.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. KeyCorp decreased their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada upped their price target on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. Finally, Truist Financial reduced their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Trading Down 1.8 %

The business’s 50 day simple moving average is $67.20 and its 200 day simple moving average is $70.59. The stock has a market cap of $136.79 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 0.75 and a beta of 1.36. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

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

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction on Monday, November 25th. The shares were 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 $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

A number of hedge funds have recently modified their holdings of the stock. GHP Investment Advisors Inc. raised its holdings in Uber Technologies by 222.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares during the period. Fairfield Financial Advisors LTD acquired a new position in shares of Uber Technologies in the second quarter valued at approximately $36,000. Financial Management Professionals Inc. grew its position in shares of Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Transcendent Capital Group LLC increased its stake in shares of Uber Technologies by 3,928.6% during the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after purchasing an additional 550 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in Uber Technologies by 84.7% during the 3rd quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock worth $45,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.