Uber Technologies (NYSE:UBER) Stock Price Down 5.5% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price traded down 5.5% during mid-day trading on Friday . The stock traded as low as $63.94 and last traded at $65.98. 10,864,062 shares were traded during mid-day trading, a decline of 46% from the average session volume of 20,080,095 shares. The stock had previously closed at $69.85.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UBER. Citigroup dropped their target price on shares of Uber Technologies from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Thursday, February 6th. UBS Group reissued a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. Wolfe Research upped their price target on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.41.

Uber Technologies Stock Performance

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 stock’s 50 day simple moving average is $73.83 and its two-hundred day simple moving average is $71.81. The company has a market capitalization of $134.92 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37.

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

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at $1,662,150. This represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock worth $5,793,869 over the last 90 days. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avion Wealth lifted its stake in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 218 shares during the period. Transce3nd LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. bought a new position in Uber Technologies during the 4th quarter worth approximately $28,000. Finally, GHP Investment Advisors Inc. grew its holdings in Uber Technologies by 85.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 223 shares during the period. 80.24% of the stock is currently owned by 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.