Uber Technologies (NYSE:UBER) Shares Gap Down – Should You Sell?

Uber Technologies, Inc. (NYSE:UBER)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $66.75, but opened at $63.42. Uber Technologies shares last traded at $66.55, with a volume of 7,008,718 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on UBER shares. Royal Bank of Canada increased their target price on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday, October 31st. Bank of America increased their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Tigress Financial boosted their price target on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Cantor Fitzgerald lifted their target price on shares of Uber Technologies from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $91.08.

Uber Technologies Price Performance

The business has a fifty day moving average of $65.71 and a 200-day moving average of $70.14. The firm has a market cap of $140.79 billion, a PE ratio of 33.26, a PEG ratio of 0.77 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts predict that Uber Technologies, Inc. will post 1.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares in the company, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its holdings in shares of Uber Technologies by 24.9% in the fourth quarter. Global Retirement Partners LLC now owns 57,241 shares of the ride-sharing company’s stock valued at $3,453,000 after purchasing an additional 11,397 shares during the period. DSM Capital Partners LLC grew its stake in Uber Technologies by 18.4% during the 4th quarter. DSM Capital Partners LLC now owns 2,537,391 shares of the ride-sharing company’s stock valued at $153,055,000 after purchasing an additional 393,982 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in Uber Technologies during the 4th quarter valued at approximately $453,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Uber Technologies during the 4th quarter worth about $114,000. Finally, GAM Holding AG lifted its holdings in Uber Technologies by 57.0% in the fourth quarter. GAM Holding AG now owns 119,599 shares of the ride-sharing company’s stock valued at $7,214,000 after acquiring an additional 43,440 shares during the period. Institutional investors own 80.24% of the company’s stock.

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.