Uber Technologies (NYSE:UBER) Trading Down 0.4% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares dropped 0.4% during mid-day trading on Tuesday . The stock traded as low as $59.33 and last traded at $59.98. Approximately 9,152,574 shares traded hands during trading, a decline of 52% from the average daily volume of 19,050,021 shares. The stock had previously closed at $60.25.

Wall Street Analysts Forecast Growth

UBER has been the subject of several recent research reports. Jefferies Financial Group upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Loop Capital increased their price target on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Daiwa Capital Markets lowered shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a report on Thursday, October 17th. Finally, KeyCorp reduced their price target on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $90.51.

Uber Technologies Stock Performance

The company has a 50-day moving average of $73.25 and a 200-day moving average of $71.40. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $127.96 billion, a PE ratio of 29.84, a PEG ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. raised its stake in shares of Uber Technologies by 53.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 5,641 shares of the ride-sharing company’s stock valued at $410,000 after purchasing an additional 1,975 shares during the period. Crescent Grove Advisors LLC purchased a new position in Uber Technologies during the 2nd quarter valued at about $317,000. KG&L Capital Management LLC bought a new stake in shares of Uber Technologies during the second quarter valued at about $607,000. Vicus Capital boosted its position in shares of Uber Technologies by 48.8% in the second quarter. Vicus Capital now owns 6,314 shares of the ride-sharing company’s stock valued at $459,000 after acquiring an additional 2,071 shares during the period. Finally, MeadowBrook Investment Advisors LLC boosted its position in shares of Uber Technologies by 228.0% in the second quarter. MeadowBrook Investment Advisors LLC now owns 8,890 shares of the ride-sharing company’s stock valued at $646,000 after acquiring an additional 6,180 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.