Uber Technologies (NYSE:UBER) Stock Price Down 5.4% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER)’s stock price fell 5.4% during trading on Thursday . The company traded as low as $70.25 and last traded at $70.51. 7,951,469 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 20,050,079 shares. The stock had previously closed at $74.50.

Analyst Ratings Changes

A number of research analysts have weighed in on UBER shares. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. KGI Securities reissued a “neutral” rating and set a $78.00 price target on shares of Uber Technologies in a research report on Tuesday, March 11th. Wolfe Research upped their target price on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Uber Technologies in a report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.41.

Uber Technologies Stock Down 6.2 %

The firm’s 50-day simple moving average is $73.80 and its two-hundred day simple moving average is $71.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The company has a market capitalization of $146.17 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last posted its 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 return on equity of 62.60% and a net margin of 22.41%. Sell-side analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the sale, the insider now owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,154 shares of company stock worth $5,793,869. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UBER. Capital Research Global Investors increased its stake in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock valued at $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Norges Bank acquired a new position in shares of Uber Technologies during the 4th quarter valued at about $1,467,754,000. Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after acquiring an additional 7,137,512 shares during the period. Boston Partners acquired a new stake in shares of Uber Technologies in the fourth quarter worth approximately $381,057,000. Finally, Assenagon Asset Management S.A. grew its holdings in Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after purchasing an additional 5,753,637 shares during the period. 80.24% of the stock is currently 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.