Uber Technologies (NYSE:UBER) Stock Price Down 0.6%

Uber Technologies, Inc. (NYSE:UBER)’s stock price was down 0.6% during mid-day trading on Friday . The stock traded as low as $70.64 and last traded at $70.87. Approximately 1,720,620 shares traded hands during trading, a decline of 91% from the average daily volume of 19,148,447 shares. The stock had previously closed at $71.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Uber Technologies from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Roth Mkm reiterated a “buy” rating and issued a $89.00 target price (down from $91.00) on shares of Uber Technologies in a research report on Friday, May 10th. Piper Sandler raised their price target on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, June 25th. Wells Fargo & Company upped their price objective on Uber Technologies from $89.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.41.

Uber Technologies Stock Performance

The company has a market cap of $147.71 billion, a P/E ratio of 114.31, a P/E/G ratio of 1.56 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $68.02 and a two-hundred day simple moving average of $69.97.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 0.85 EPS for the current year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 28,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the completion of the transaction, the insider now directly owns 96,945 shares in the company, valued at approximately $6,851,103.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Uber Technologies news, insider Tony West sold 28,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the sale, the insider now owns 96,945 shares in the company, valued at approximately $6,851,103.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $65.93, for a total value of $32,965,000.00. Following the sale, the chief executive officer now directly owns 1,656,996 shares in the company, valued at $109,245,746.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 635,984 shares of company stock worth $42,258,297. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Covenant Asset Management LLC lifted its stake in Uber Technologies by 0.3% in the 1st quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock worth $4,078,000 after purchasing an additional 157 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in Uber Technologies by 2.9% during the 4th quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after buying an additional 157 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Uber Technologies by 3.3% in the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock worth $376,000 after acquiring an additional 157 shares during the last quarter. Wellington Shields Capital Management LLC raised its holdings in shares of Uber Technologies by 6.1% during the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock worth $212,000 after acquiring an additional 159 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of Uber Technologies by 3.2% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock valued at $398,000 after acquiring an additional 160 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.