Uber Technologies (NYSE:UBER) Trading Down 4% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares were down 4% on Monday . The stock traded as low as $72.15 and last traded at $73.23. Approximately 6,968,735 shares changed hands during trading, a decline of 64% from the average daily volume of 19,446,306 shares. The stock had previously closed at $76.27.

Analyst Ratings Changes

A number of research firms have commented on UBER. Evercore ISI reduced their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Wolfe Research boosted their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a research report on Thursday, January 2nd. Eight 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. According to MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $90.71.

Uber Technologies Stock Performance

The firm has a market cap of $152.51 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The business has a 50 day simple moving average of $70.92 and a two-hundred day simple moving average of $71.62. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

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

Insider Activity

In related news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avion Wealth raised its holdings in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC acquired a new stake in Uber Technologies in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in Uber Technologies in the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Uber Technologies during the fourth quarter worth $28,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of 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 purchasing an additional 223 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.