Uber Technologies (NYSE:UBER) Trading Down 1.8% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price was down 1.8% during mid-day trading on Wednesday . The company traded as low as $73.76 and last traded at $74.25. Approximately 3,168,743 shares traded hands during trading, a decline of 84% from the average daily volume of 19,605,219 shares. The stock had previously closed at $75.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Truist Financial lifted their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Uber Technologies Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $73.33 and its two-hundred day moving average price is $71.71. The stock has a market cap of $151.89 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 filing with the SEC, which is available at the SEC website. Also, SVP Nikki Krishnamurthy sold 20,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the sale, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 in the last three months. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors have recently made changes to their positions in the company. Navalign LLC grew its holdings in shares of Uber Technologies by 0.5% during the fourth quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock worth $1,536,000 after buying an additional 126 shares in the last quarter. Welch & Forbes LLC lifted its stake in Uber Technologies by 3.9% in the 4th quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after purchasing an additional 148 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its position in shares of Uber Technologies by 3.5% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after purchasing an additional 150 shares in the last quarter. United Advisor Group LLC increased its holdings in shares of Uber Technologies by 3.6% in the fourth quarter. United Advisor Group LLC now owns 4,367 shares of the ride-sharing company’s stock valued at $263,000 after purchasing an additional 153 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its stake in Uber Technologies by 3.1% during the fourth quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock worth $312,000 after buying an additional 155 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.