Uber Technologies (NYSE:UBER) Shares Down 1.6% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares 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 were traded during trading, a decline of 78% from the average daily volume of 23,686,635 shares. The stock had previously closed at $72.86.

Analysts Set New Price Targets

UBER has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. DA Davidson lowered their price target on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, February 5th. Finally, Fox Advisors cut shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Price 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 business’s 50 day simple moving average is $73.80 and its 200-day simple moving average is $71.82. The stock has a market capitalization of $156.11 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.89 and a beta of 1.39.

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

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 23,404 shares of the firm’s stock in a transaction 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 approximately $8,027,715.07. This trade represents a 17.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,154 shares of company stock worth $5,793,869. Company insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Avion Wealth lifted its stake 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 valued at $26,000 after buying an additional 218 shares in the last quarter. Transce3nd LLC purchased a new stake in Uber Technologies during the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new position in Uber Technologies in the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Uber Technologies during the fourth quarter valued at about $28,000. Finally, GHP Investment Advisors Inc. lifted its holdings in Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 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.