Uber Technologies (NYSE:UBER) Shares Down 1.3% on Insider Selling

Uber Technologies, Inc. (NYSE:UBER) shares dropped 1.3% on Wednesday following insider selling activity. The company traded as low as $79.26 and last traded at $80.41. Approximately 5,444,229 shares were traded during trading, a decline of 81% from the average daily volume of 29,187,447 shares. The stock had previously closed at $81.49.

Specifically, 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 completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UBER. JMP Securities reissued a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Arete Research upgraded shares of Uber Technologies to a “hold” rating in a research note on Tuesday. KeyCorp dropped their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. cut their target price on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Truist Financial decreased their price objective on Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $90.91.

Uber Technologies Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $164.79 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The stock’s fifty day simple moving average is $67.67 and its 200-day simple moving average is $71.11.

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

Institutional Trading of Uber Technologies

A number of large investors have recently made changes to their positions in UBER. AMF Tjanstepension AB purchased a new stake in shares of Uber Technologies in the 3rd quarter valued at approximately $163,468,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Uber Technologies by 25.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,161 shares of the ride-sharing company’s stock valued at $238,000 after buying an additional 635 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in Uber Technologies by 34.0% in the third quarter. Foundations Investment Advisors LLC now owns 8,392 shares of the ride-sharing company’s stock valued at $631,000 after buying an additional 2,130 shares in the last quarter. BLB&B Advisors LLC purchased a new stake in Uber Technologies during the 3rd quarter worth about $206,000. Finally, Greenleaf Trust boosted its position in shares of Uber Technologies by 9.5% during the 3rd quarter. Greenleaf Trust now owns 19,079 shares of the ride-sharing company’s stock worth $1,434,000 after acquiring an additional 1,659 shares in the last quarter. 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.