Uber Technologies (NYSE:UBER) Shares Down 0.3% – Time to Sell?

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 0.3% during mid-day trading on Tuesday . The company traded as low as $60.37 and last traded at $60.59. Approximately 3,178,643 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 19,157,748 shares. The stock had previously closed at $60.77.

Analyst Ratings Changes

UBER has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, December 18th. BMO Capital Markets reissued an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Friday, October 11th. Finally, Oppenheimer lifted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.31.

Uber Technologies Stock Performance

The stock’s 50 day moving average price is $69.33 and its 200 day moving average price is $70.92. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a market cap of $127.80 billion, a PE ratio of 30.19, a P/E/G ratio of 0.75 and a beta of 1.33.

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

Insider Activity

In related news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after acquiring an additional 893,652 shares in the last quarter. Edgewood Management LLC raised its stake in shares of Uber Technologies by 10.5% in 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 in the last quarter. Legal & General Group Plc lifted its position in shares of Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after purchasing an additional 237,976 shares during the last quarter. Janus Henderson Group PLC grew its stake in Uber Technologies by 18.3% in 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 purchasing an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Uber Technologies by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after buying an additional 1,601,747 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.