Uber Technologies (NYSE:UBER) Shares Down 4.8% – Time to Sell?

by · The Markets Daily

Uber Technologies, Inc. (NYSE:UBER – Get Free Report)’s share price dropped 4.8% during trading on Tuesday . The company traded as low as $90.08 and last traded at $94.8880. Approximately 48,562,947 shares traded hands during mid-day trading, an increase of 134% from the average daily volume of 20,742,260 shares. The stock had previously closed at $99.72.

Analyst Ratings Changes

UBER has been the topic of a number of recent research reports. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Mizuho initiated coverage on shares of Uber Technologies in a report on Monday, September 29th. They issued an “outperform” rating and a $130.00 target price on the stock. Susquehanna lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Raymond James Financial lifted their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.56.

Check Out Our Latest Research Report on Uber Technologies

Uber Technologies Trading Down 4.8%

The business’s 50-day moving average is $95.66 and its two-hundred day moving average is $90.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $197.88 billion, a PE ratio of 16.16 and a beta of 1.48.

Uber Technologies (NYSE:UBER – Get Free Report) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping the consensus estimate of $0.67 by $2.44. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 3,125 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $93.00, for a total value of $290,625.00. Following the sale, the insider directly owned 172,846 shares in the company, valued at $16,074,678. The trade was a 1.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 604,946 shares of company stock worth $58,950,116. 3.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pershing Square Capital Management L.P. acquired a new stake in shares of Uber Technologies during the 1st quarter worth about $2,207,743,000. Norges Bank acquired a new stake in shares of Uber Technologies during the 2nd quarter worth about $2,348,319,000. Kingstone Capital Partners Texas LLC boosted its stake in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Uber Technologies by 2,571.2% during the 1st 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 during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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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