Uber Technologies (NYSE:UBER) Shares Down 4.3% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price traded down 4.3% during mid-day trading on Wednesday . The company traded as low as $61.57 and last traded at $62.16. 15,982,340 shares were traded during trading, a decline of 14% from the average session volume of 18,539,748 shares. The stock had previously closed at $64.96.

Analysts Set New Price Targets

Several equities analysts have commented on UBER shares. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Bank of America upped their price target on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp cut their target price on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Oppenheimer boosted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company lowered their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Stock Down 5.4 %

The firm has a market cap of $129.44 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 0.82 and a beta of 1.33. The firm’s fifty day moving average is $74.29 and its two-hundred day moving average is $71.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

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, topping analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, sell-side analysts expect that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Inspire Trust Co. N.A. boosted its position in Uber Technologies by 30.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 32,105 shares of the ride-sharing company’s stock worth $2,413,000 after acquiring an additional 7,500 shares during the period. Tri Ri Asset Management Corp purchased a new position in Uber Technologies during the third quarter valued at approximately $8,243,000. Peapack Gladstone Financial Corp increased its stake in Uber Technologies by 30.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 6,562 shares of the ride-sharing company’s stock valued at $494,000 after buying an additional 1,550 shares during the period. Synovus Financial Corp lifted its position in Uber Technologies by 26.1% in the 3rd quarter. Synovus Financial Corp now owns 17,499 shares of the ride-sharing company’s stock worth $1,315,000 after buying an additional 3,622 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Uber Technologies by 64.6% during the 3rd quarter. Tidal Investments LLC now owns 328,110 shares of the ride-sharing company’s stock valued at $24,661,000 after buying an additional 128,739 shares during the period. 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.