Uber Technologies (NYSE:UBER) Trading Down 1.5% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) shares traded down 1.5% during trading on Monday . The company traded as low as $70.50 and last traded at $71.69. 4,303,355 shares traded hands during trading, a decline of 79% from the average session volume of 20,037,168 shares. The stock had previously closed at $72.75.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UBER. The Goldman Sachs Group restated a “buy” rating and issued a $96.00 price target on shares of Uber Technologies in a research report on Thursday, January 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a research report on Thursday, February 6th. Citizens Jmp lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. Finally, Evercore ISI cut their price target on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Performance

The stock has a 50 day simple moving average of $73.66 and a 200 day simple moving average of $71.80. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a market cap of $152.77 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.89 and a beta of 1.39.

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

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. 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. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in UBER. Hobart Private Capital LLC increased its position in shares of Uber Technologies by 59.2% in the 1st quarter. Hobart Private Capital LLC now owns 6,567 shares of the ride-sharing company’s stock worth $478,000 after purchasing an additional 2,441 shares during the last quarter. Cacti Asset Management LLC acquired a new position in Uber Technologies in the first quarter worth about $13,457,000. Modus Advisors LLC increased its holdings in Uber Technologies by 4.3% in the first quarter. Modus Advisors LLC now owns 66,617 shares of the ride-sharing company’s stock valued at $4,854,000 after buying an additional 2,776 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Uber Technologies by 17.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 25,888 shares of the ride-sharing company’s stock valued at $1,886,000 after buying an additional 3,781 shares in the last quarter. Finally, Stonehearth Capital Management LLC bought a new position in Uber Technologies during the 1st quarter worth approximately $224,000. 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.