Uber Technologies (NYSE:UBER) Stock Price Down 2.4% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) fell 2.4% during mid-day trading on Thursday . The company traded as low as $79.41 and last traded at $79.92. 8,708,791 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 17,971,881 shares. The stock had previously closed at $81.90.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UBER. Roth Mkm boosted their price target on shares of Uber Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer lifted their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Monday, October 7th. JMP Securities lifted their price objective on shares of Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 7th. Finally, Raymond James started coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective for the company. Five analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Uber Technologies Stock Performance

The firm has a market capitalization of $167.87 billion, a PE ratio of 88.67, a P/E/G ratio of 1.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day simple moving average is $73.87 and its 200 day simple moving average is $70.63.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, equities research analysts expect that Uber Technologies, Inc. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares in the company, valued at $9,169,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. GHP Investment Advisors Inc. increased its position in shares of Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 245 shares during the last quarter. Financial Management Professionals Inc. grew its position in Uber Technologies by 111.6% during the first quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 202 shares during the last quarter. WR Wealth Planners LLC boosted its stake in shares of Uber Technologies by 563.9% during the second quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 344 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of Uber Technologies during the first quarter valued at approximately $32,000. Finally, MCF Advisors LLC boosted its stake in shares of Uber Technologies by 1,038.5% during the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares during the period. 80.24% of the stock is currently owned by 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.