Uber Technologies (NYSE:UBER) Trading Down 3.6% – Time to Sell?

Uber Technologies, Inc. (NYSE:UBER)’s share price traded down 3.6% on Monday . The stock traded as low as $74.85 and last traded at $76.02. 9,612,859 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 28,255,574 shares. The stock had previously closed at $78.89.

Wall Street Analysts Forecast Growth

UBER has been the topic of several analyst reports. Citizens Jmp downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Tigress Financial boosted their price objective on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a report on Wednesday, February 5th. Piper Sandler reiterated an “overweight” rating and set a $87.00 price target (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Finally, Truist Financial cut their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.94.

Uber Technologies Stock Down 3.4 %

The company’s 50 day simple moving average is $68.05 and its 200-day simple moving average is $71.34. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market cap of $159.28 billion, a P/E ratio of 16.74, a PEG ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last issued its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avion Wealth raised its stake in shares of Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares during the period. Transce3nd LLC purchased a new position in shares of Uber Technologies during the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. bought a new position in Uber Technologies in the 4th quarter worth $28,000. Finally, GHP Investment Advisors Inc. increased its stake in Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares in the last quarter. 80.24% of the stock is currently 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.