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

Uber Technologies, Inc. (NYSE:UBER) traded down 1.9% during trading on Monday . The company traded as low as $67.23 and last traded at $67.30. 27,057,083 shares were traded during mid-day trading, an increase of 20% from the average session volume of 22,576,684 shares. The stock had previously closed at $68.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wolfe Research boosted their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Tigress Financial boosted their target price on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday, November 25th. UBS Group raised their price target on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America lifted their price target on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Trading Down 1.9 %

The business’s 50-day simple moving average is $66.24 and its 200-day simple moving average is $70.36. The company has a market cap of $141.71 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 0.71 and a beta of 1.36. 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 released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’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 firm posted $0.10 earnings per share. Research analysts predict that Uber Technologies, Inc. will post 1.9 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UBER. Ascent Wealth Partners LLC purchased a new position in shares of Uber Technologies in the 3rd quarter worth $2,087,000. Teachers Retirement System of The State of Kentucky raised its holdings in Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock valued at $24,180,000 after buying an additional 13,433 shares during the period. Aviso Wealth Management acquired a new position in Uber Technologies during the third quarter valued at approximately $2,302,000. Brophy Wealth Management LLC purchased a new stake in Uber Technologies during the third quarter worth approximately $1,041,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Uber Technologies by 9.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,752,471 shares of the ride-sharing company’s stock valued at $432,356,000 after acquiring an additional 512,591 shares during the period. 80.24% of the stock is currently owned by hedge funds and other 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.