Uber Technologies (NYSE:UBER) Stock Price Down 2.4% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) shares were down 2.4% during trading on Thursday . The stock traded as low as $79.41 and last traded at $79.92. Approximately 8,708,791 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 17,971,881 shares. The stock had previously closed at $81.90.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Oppenheimer boosted their target price on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Piper Sandler boosted their target price on Uber Technologies from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group boosted their price target on Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Melius Research assumed coverage on Uber Technologies in a research note on Monday, July 22nd. They set a “hold” rating and a $77.00 price target on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price target on shares of Uber Technologies in a research note on Friday, October 11th. Five research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Uber Technologies Trading Down 2.4 %

The firm has a market capitalization of $167.87 billion, a P/E ratio of 88.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.33. The business’s 50-day moving average is $73.87 and its 200 day moving average is $70.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same period last year, the firm earned $0.18 earnings per share. Uber Technologies’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Uber Technologies, Inc. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Procyon Advisors LLC boosted its position in Uber Technologies by 2.1% during the 3rd quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after buying an additional 131 shares during the period. Wealthspire Advisors LLC lifted its position in shares of Uber Technologies by 0.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after purchasing an additional 151 shares during the period. Sivia Capital Partners LLC lifted its position in shares of 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 purchasing an additional 157 shares during the period. Wellington Shields Capital Management LLC lifted its position in shares of Uber Technologies by 6.1% in the 1st quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock worth $212,000 after purchasing an additional 159 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of Uber Technologies by 3.2% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock worth $398,000 after purchasing an additional 160 shares during the period. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.