Uber Technologies (NYSE:UBER) Trading Down 0.3% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares dropped 0.3% on Wednesday . The company traded as low as $70.55 and last traded at $71.16. Approximately 3,620,003 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 18,104,684 shares. The stock had previously closed at $71.37.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UBER. Evercore ISI lifted their price objective on shares of Uber Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Roth Mkm upped their price target on Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. KeyCorp lowered their target price on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Thursday, October 31st. Finally, Bank of America increased their price objective on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $149.72 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 0.71 and a beta of 1.34. The stock has a fifty day moving average of $75.42 and a two-hundred day moving average of $70.99.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. Sell-side analysts anticipate that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. The trade was a 0.00 % decrease in their position. The transaction 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 corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UBER. GHP Investment Advisors Inc. boosted its position in Uber Technologies by 222.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 245 shares during the period. WR Wealth Planners LLC lifted its holdings in shares of Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Uber Technologies during the first quarter valued at $32,000. MCF Advisors LLC raised its position in Uber Technologies by 1,038.5% in the 2nd quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock worth $32,000 after buying an additional 405 shares during the last quarter. Finally, Founders Capital Management bought a new position in Uber Technologies during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors 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.