Uber Technologies (NYSE:UBER) Shares Down 2% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER)’s stock price was down 2% on Monday . The stock traded as low as $73.55 and last traded at $73.73. Approximately 3,226,965 shares were traded during trading, a decline of 86% from the average daily volume of 23,293,826 shares. The stock had previously closed at $75.24.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of analyst reports. TD Cowen cut their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Piper Sandler restated 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Wolfe Research boosted their target price on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, KGI Securities reaffirmed a “neutral” rating and set a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

Uber Technologies Stock Performance

The firm has a market cap of $149.77 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The company has a 50 day simple moving average of $74.06 and a 200-day simple moving average of $71.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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

Insider Activity

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies 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 transaction, the senior vice president now owns 361,908 shares in the company, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,154 shares of company stock valued at $5,793,869. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Capital Research Global Investors lifted 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 acquiring an additional 52,125,476 shares in the last quarter. Norges Bank purchased a new position in shares of Uber Technologies in the fourth quarter worth $1,467,754,000. Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Boston Partners purchased a new stake in shares of Uber Technologies during the fourth quarter valued at $381,057,000. Finally, Assenagon Asset Management S.A. increased its holdings 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 worth $398,809,000 after buying an additional 5,753,637 shares in the last quarter. 80.24% of the stock is 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.