Uber Technologies (NYSE:UBER) Stock Price Down 2.9% – Here’s Why

by · The Cerbat Gem

Uber Technologies, Inc. (NYSE:UBER – Get Free Report) shares were down 2.9% on Tuesday . The stock traded as low as $91.08 and last traded at $90.64. Approximately 4,273,693 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 21,012,080 shares. The stock had previously closed at $93.30.

Analyst Upgrades and Downgrades

UBER has been the subject of several research analyst reports. TD Cowen decreased their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. DA Davidson lifted their price target on Uber Technologies from $80.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 8th. UBS Group increased their target price on shares of Uber Technologies from $103.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Wedbush downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $85.00 in a report on Thursday, May 8th. Finally, Barclays increased their price objective on Uber Technologies from $86.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.85.

Check Out Our Latest Stock Report on UBER

Uber Technologies Trading Down 1.9%

The firm has a market cap of $191.46 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.16 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day simple moving average is $85.56 and its 200 day simple moving average is $75.63.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) earnings per share. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the completion of the sale, the chief financial officer directly owned 21,063 shares of the company’s stock, valued at approximately $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 34,884 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares in the company, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently bought and sold shares of UBER. Capital Research Global Investors increased its stake in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Pershing Square Capital Management L.P. acquired a new position in Uber Technologies during the first quarter worth $2,207,743,000. Norges Bank acquired a new position in shares of Uber Technologies during the 4th quarter worth $1,467,754,000. Boston Partners acquired a new position in Uber Technologies during the fourth quarter worth about $381,057,000. Finally, Pacer Advisors Inc. boosted its position in Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after purchasing an additional 6,254,898 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

About Uber Technologies

(Get Free Report)

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.

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