Uber Technologies (NYSE:UBER) Stock Price Down 3% Following Insider Selling

Shares of Uber Technologies, Inc. (NYSE:UBER) traded down 3% on Tuesday following insider selling activity. The company traded as low as $70.60 and last traded at $70.55. 4,025,110 shares were traded during trading, a decline of 79% from the average session volume of 19,508,068 shares. The stock had previously closed at $72.73.

Specifically, insider Tony West sold 23,404 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Arete Research upgraded Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Finally, Citigroup reduced their target price on Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Stock Performance

The company has a 50-day moving average price of $71.98 and a two-hundred day moving average price of $71.56. 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 stock has a market capitalization of $147.87 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

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

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Capital Research Global Investors increased its position in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after buying an additional 52,125,476 shares in the last quarter. Norges Bank bought a new stake in Uber Technologies in the 4th quarter valued at about $1,467,754,000. Jennison Associates LLC increased its position in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after buying an additional 7,137,512 shares in the last quarter. Boston Partners bought a new stake in Uber Technologies in the 4th quarter valued at about $381,057,000. Finally, Assenagon Asset Management S.A. increased its position in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after buying an additional 5,753,637 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

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.