Uber Technologies (NYSE:UBER) Shares Down 2.4% – Should You Sell?

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 2.4% during trading on Friday . The stock traded as low as $72.86 and last traded at $73.09. Approximately 2,901,283 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 19,605,588 shares. The stock had previously closed at $74.86.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UBER. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $96.00 price target on shares of Uber Technologies in a report on Thursday, January 2nd. Fox Advisors downgraded shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Citigroup dropped their price target on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a 50-day moving average price of $73.33 and a 200 day moving average price of $71.71. The company has a market cap of $151.65 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the sale, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. 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. 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. Avion Wealth increased its position in shares of Uber Technologies by 96.0% during the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC bought a new position in shares of Uber Technologies in the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in Uber Technologies in the 4th quarter valued at $28,000. Finally, GHP Investment Advisors Inc. lifted its holdings in 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 purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds 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.