Uber Technologies (NYSE:UBER) Stock Price Down 1.6%

Uber Technologies, Inc. (NYSE:UBER)’s stock price fell 1.6% on Thursday . The company traded as low as $68.96 and last traded at $68.96. 3,890,056 shares were traded during mid-day trading, a decline of 79% from the average session volume of 18,227,572 shares. The stock had previously closed at $70.11.

Analyst Ratings Changes

Several brokerages recently issued reports on UBER. The Goldman Sachs Group upped their price objective on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Citigroup raised their price objective on Uber Technologies from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Loop Capital upped their target price on Uber Technologies from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America reissued a “buy” rating and issued a $88.00 price target on shares of Uber Technologies in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald initiated coverage on shares of Uber Technologies in a research note on Thursday, September 5th. They set an “overweight” rating and a $90.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $87.60.

Uber Technologies Stock Performance

The firm has a market cap of $152.28 billion, a price-to-earnings ratio of 116.90, a PEG ratio of 1.25 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $69.41 and a 200 day moving average of $70.99.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. As a group, equities research analysts expect that Uber Technologies, Inc. will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock worth $13,184,793,000 after acquiring an additional 3,623,951 shares during the last quarter. Capital World Investors lifted its holdings in shares of Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock worth $2,500,366,000 after purchasing an additional 283,802 shares during the last quarter. Capital Research Global Investors boosted its position in Uber Technologies by 8.2% during the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after buying an additional 9,996,508 shares during the last quarter. Finally, Norges Bank acquired a new stake in Uber Technologies in the fourth quarter worth $1,415,778,000. 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.