Uber Technologies (NYSE:UBER) Trading Down 5.4% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) shares were down 5.4% during trading on Thursday . The company traded as low as $70.25 and last traded at $70.51. Approximately 7,951,469 shares traded hands during trading, a decline of 60% from the average daily volume of 20,050,079 shares. The stock had previously closed at $74.50.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, February 5th. Wolfe Research raised their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price target on shares of Uber Technologies from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Finally, KGI Securities reissued a “neutral” rating and issued a $78.00 target price on shares of Uber Technologies in a research note on Tuesday, March 11th. Ten investment 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 stock. According to MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $90.41.

Uber Technologies Trading Down 6.2 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The business’s 50-day moving average is $73.80 and its 200 day moving average is $71.82. The firm has a market capitalization of $146.17 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating 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 anticipate 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 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock valued at $5,793,869 in the last quarter. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

A number of large investors have recently added to or reduced their stakes in UBER. Vanguard Group Inc. grew its position in Uber Technologies by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock valued at $10,903,846,000 after purchasing an additional 2,364,525 shares during the last quarter. Capital Research Global Investors grew its holdings in Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Geode Capital Management LLC increased its holdings in Uber Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after acquiring an additional 1,061,088 shares in the last quarter. Capital World Investors boosted its holdings in Uber Technologies by 10.1% in the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after buying an additional 2,792,039 shares during the period. Finally, Jennison Associates LLC raised its stake in Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. 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.