Uber Technologies (NYSE:UBER) Trading Down 1.6% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 1.6% during trading on Tuesday . The company traded as low as $70.83 and last traded at $71.69. Approximately 5,105,572 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 23,686,635 shares. The stock had previously closed at $72.86.

Wall Street Analyst Weigh In

Several research analysts have issued reports on UBER shares. Truist Financial increased their price target on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Fox Advisors cut Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Wells Fargo & Company decreased their price target on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Finally, KGI Securities reissued a “neutral” rating and set a $78.00 target price on shares of Uber Technologies in a research report on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $149.28 billion, a P/E ratio of 15.67, a PEG ratio of 0.89 and a beta of 1.39. The company has a 50-day moving average price of $73.55 and a two-hundred day moving average price of $71.80.

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

Insider Activity

In related news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Avion Wealth lifted its holdings in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares during the period. Transce3nd LLC purchased a new position in Uber Technologies in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Uber Technologies during the fourth quarter valued at $28,000. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Uber Technologies by 85.1% during the 4th 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 institutional investors.

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.