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

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on UBER shares. Piper Sandler reiterated an “overweight” rating and set a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Arete Research raised shares of Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a research note on Thursday, February 6th. DA Davidson cut their target price on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Uber Technologies Price Performance

The company has a market cap of $152.43 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The business has a 50 day moving average of $73.44 and a 200 day moving average of $71.76. 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 for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now owns 114,241 shares in the company, valued at approximately $8,027,715.07. This represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,154 shares of company stock worth $5,793,869 over the last ninety days. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

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