Uber Technologies (NYSE:UBER) Trading Down 1.4%

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 1.4% during trading on Monday . The stock traded as low as $71.43 and last traded at $71.44. Approximately 2,931,266 shares were traded during trading, a decline of 84% from the average daily volume of 18,280,066 shares. The stock had previously closed at $72.48.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. Bank of America reissued a “buy” rating and set a $88.00 price target on shares of Uber Technologies in a report on Friday, August 23rd. Melius Research initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Uber Technologies in a research note on Thursday, September 5th. They issued an “overweight” rating and a $90.00 price target on the stock. Finally, Evercore ISI lifted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Stock Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $69.41 and a 200-day moving average of $70.89. The company has a market cap of $150.01 billion, a PE ratio of 115.53, a P/E/G ratio of 1.21 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. Equities research analysts anticipate that Uber Technologies, Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Vanguard Group Inc. increased its holdings in Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares in the last quarter. Capital World Investors grew its stake in shares of Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after buying an additional 283,802 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock worth $3,075,562,000 after buying an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after buying an additional 9,996,508 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Uber Technologies by 74.1% in the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock valued at $1,726,381,000 after acquiring an additional 9,541,366 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.