Uber Technologies (NYSE:UBER) Shares Down 1.8% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares dropped 1.8% during mid-day trading on Thursday . The stock traded as low as $64.12 and last traded at $64.96. Approximately 24,485,956 shares were traded during trading, a decline of 17% from the average daily volume of 29,452,506 shares. The stock had previously closed at $66.15.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UBER. The Goldman Sachs Group reissued a “buy” rating and issued a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. UBS Group lifted their price target on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Loop Capital upped their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Price Performance

The company’s 50 day moving average price is $67.20 and its 200 day moving average price is $70.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $136.79 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 0.75 and a beta of 1.36.

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

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after acquiring an additional 3,179,308 shares during the last quarter. Edgewood Management LLC lifted its position in 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 valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. AMF Tjanstepension AB bought a new position in shares of Uber Technologies in the 3rd quarter valued at about $163,468,000. Nordea Investment Management AB grew its position in shares of Uber Technologies by 1,370.1% during the 4th quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock worth $134,144,000 after buying an additional 2,064,382 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after buying an additional 2,056,273 shares during the last quarter. 80.24% of the stock is currently 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.