Uber Technologies (NYSE:UBER) Shares Down 5.9% – Time to Sell?

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded down 5.9% during mid-day trading on Monday . The company traded as low as $68.43 and last traded at $68.93. 10,729,250 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 18,145,734 shares. The stock had previously closed at $73.25.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UBER. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Uber Technologies in a research note on Monday, October 7th. Truist Financial lowered their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday, October 31st. Royal Bank of Canada upped their target price on Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Bank of America lifted their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.32.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50-day moving average of $75.47 and a 200 day moving average of $71.11. The firm has a market cap of $145.57 billion, a P/E ratio of 34.39, a P/E/G ratio of 0.73 and a beta of 1.34.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the company earned $0.10 EPS. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.83 EPS for the current year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors have recently made changes to their positions in UBER. Invst LLC boosted its stake in Uber Technologies by 5.0% during the 3rd quarter. Invst LLC now owns 4,108 shares of the ride-sharing company’s stock worth $309,000 after acquiring an additional 197 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Uber Technologies by 4.8% in the 3rd quarter. M&T Bank Corp now owns 175,104 shares of the ride-sharing company’s stock valued at $13,161,000 after acquiring an additional 7,968 shares in the last quarter. Soltis Investment Advisors LLC increased its position in shares of Uber Technologies by 11.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 3,912 shares of the ride-sharing company’s stock worth $294,000 after purchasing an additional 410 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Uber Technologies by 117.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 9,893 shares of the ride-sharing company’s stock valued at $746,000 after acquiring an additional 5,342 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in Uber Technologies by 5.9% during the third quarter. TD Private Client Wealth LLC now owns 64,960 shares of the ride-sharing company’s stock worth $4,882,000 after purchasing an additional 3,615 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

About Uber Technologies

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.