Uber Technologies (NYSE:UBER) Shares Down 5.5% – Time to Sell?

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 5.5% during trading on Friday . The company traded as low as $63.94 and last traded at $65.98. Approximately 10,864,062 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 20,080,095 shares. The stock had previously closed at $69.85.

Analysts Set New Price Targets

UBER has been the subject of several recent analyst reports. Wolfe Research raised their target price on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Arete Research raised shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. DA Davidson lowered their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.41.

Uber Technologies Stock Performance

The firm has a fifty day moving average price of $73.83 and a 200 day moving average price of $71.81. The firm has a market capitalization of $134.92 billion, a PE ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41.

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

Insider Buying and Selling

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction 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 completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the company’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 completion of the transaction, the insider now directly owns 86,973 shares in the company, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,154 shares of company stock valued at $5,793,869. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors have recently bought and sold shares of the stock. Avion Wealth raised its stake in shares of Uber Technologies by 96.0% in the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC bought a new position in shares of Uber Technologies in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies in the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. bought a new position in Uber Technologies in the 4th quarter worth $28,000. Finally, GHP Investment Advisors Inc. lifted its position in Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 223 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Uber Technologies Company Profile

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.