Uber Technologies (NYSE:UBER) Stock Price Down 1.9% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares were down 1.9% on Wednesday . The company traded as low as $64.83 and last traded at $64.92. Approximately 9,553,491 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 26,200,803 shares. The stock had previously closed at $66.15.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Raymond James initiated coverage on Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 target price for the company. Tigress Financial boosted their price target on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Bank of America upped their price objective on Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Loop Capital lifted their target price on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Price Performance

The firm has a market cap of $138.89 billion, a P/E ratio of 32.82, a P/E/G ratio of 0.75 and a beta of 1.36. The company has a fifty day moving average of $67.06 and a 200-day moving average of $70.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Geode Capital Management LLC raised its position in shares of Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after buying an additional 893,652 shares in the last quarter. Edgewood Management LLC lifted its holdings in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the last quarter. Legal & General Group Plc grew its position in Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after acquiring an additional 237,976 shares in the last quarter. Janus Henderson Group PLC increased its stake in Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after acquiring an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Uber Technologies by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after purchasing an additional 1,601,747 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

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.