Uber Technologies (NYSE:UBER) Stock Price Down 3.7%

Uber Technologies, Inc. (NYSE:UBER)’s share price was down 3.7% during mid-day trading on Monday . The company traded as low as $54.84 and last traded at $56.81. Approximately 10,984,382 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 18,843,254 shares. The stock had previously closed at $58.99.

Analysts Set New Price Targets

A number of research analysts recently issued reports on UBER shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a report on Monday, July 15th. Citigroup boosted their price objective on Uber Technologies from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of Uber Technologies in a report on Wednesday, May 8th. DA Davidson reissued a “buy” rating and set a $81.00 price objective on shares of Uber Technologies in a report on Wednesday, May 8th. Finally, Moffett Nathanson reissued a “buy” rating and set a $92.00 price objective on shares of Uber Technologies in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average price target of $86.76.

Uber Technologies Trading Down 0.8 %

The business has a 50 day moving average price of $68.37 and a 200-day moving average price of $71.02. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a market cap of $122.26 billion, a P/E ratio of 91.63, a PEG ratio of 1.32 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a net margin of 3.60% and a return on equity of 12.81%. The business had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same period last year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts forecast that Uber Technologies, Inc. will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Tony West sold 18,750 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares of the company’s stock, valued at $13,541,962.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction on Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the transaction, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,135,984 shares of company stock worth $78,213,297. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Covenant Asset Management LLC lifted its holdings in shares of Uber Technologies by 0.3% during the 1st quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company’s stock valued at $4,078,000 after purchasing an additional 157 shares during the last quarter. Hilltop Holdings Inc. raised its position in shares of Uber Technologies by 2.9% during the 4th quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company’s stock valued at $347,000 after buying an additional 157 shares during the period. Sivia Capital Partners LLC increased its holdings in Uber Technologies by 3.3% in the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company’s stock valued at $376,000 after purchasing an additional 157 shares during the last quarter. Wellington Shields Capital Management LLC grew its stake in shares of Uber Technologies by 6.1% in the first quarter. Wellington Shields Capital Management LLC now owns 2,756 shares of the ride-sharing company’s stock worth $212,000 after acquiring an additional 159 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its stake in shares of Uber Technologies by 3.2% during the first quarter. Industrial Alliance Investment Management Inc. now owns 5,170 shares of the ride-sharing company’s stock worth $398,000 after purchasing an additional 160 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.