Uber Technologies (NYSE:UBER) Shares Gap Down – Should You Sell?

Uber Technologies, Inc. (NYSE:UBER)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $99.72, but opened at $91.97. Uber Technologies shares last traded at $93.2730, with a volume of 17,509,752 shares.

Analyst Ratings Changes

Several equities analysts have commented on UBER shares. Royal Bank Of Canada lifted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Barclays reiterated an “overweight” rating and issued a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. BMO Capital Markets lifted their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Raymond James Financial boosted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Susquehanna boosted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

Uber Technologies Price Performance

The business’s 50-day simple moving average is $95.66 and its 200-day simple moving average is $90.79. The stock has a market cap of $196.00 billion, a PE ratio of 15.99 and a beta of 1.48. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 604,946 shares of company stock valued at $58,950,116. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Brighton Jones LLC increased its position in shares of Uber Technologies by 3.4% during the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after buying an additional 2,474 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after buying an additional 6,129 shares in the last quarter. Bison Wealth LLC lifted its stake in shares of Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock worth $229,000 after buying an additional 641 shares in the last quarter. Mutual Advisors LLC lifted its stake in shares of Uber Technologies by 29.4% in the first quarter. Mutual Advisors LLC now owns 7,677 shares of the ride-sharing company’s stock worth $597,000 after buying an additional 1,745 shares in the last quarter. Finally, Capital Investment Advisory Services LLC lifted its position in Uber Technologies by 19.5% during the first quarter. Capital Investment Advisory Services LLC now owns 7,386 shares of the ride-sharing company’s stock valued at $538,000 after purchasing an additional 1,207 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

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.