Uber Technologies (NYSE:UBER) Shares Down 0.4% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) traded down 0.4% during mid-day trading on Friday . The company traded as low as $67.79 and last traded at $68.28. 8,688,001 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 26,077,301 shares. The stock had previously closed at $68.58.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on UBER shares. Royal Bank of Canada upped their target price on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp lowered their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group reiterated a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a research note on Thursday, January 2nd. Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, October 17th. Finally, Tigress Financial boosted their target price on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.53.

Uber Technologies Trading Down 1.5 %

The company has a 50 day simple moving average of $66.34 and a two-hundred day simple moving average of $70.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $142.21 billion, a PE ratio of 33.62, a PEG ratio of 0.71 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share 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 firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Uber Technologies, Inc. will post 1.9 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % 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. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Uber Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after buying an additional 893,652 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Uber Technologies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after acquiring an additional 237,976 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Uber Technologies by 18.3% in the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after purchasing an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Uber Technologies by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 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.