Uber Technologies (NYSE:UBER) Stock Falls 2.2% – Time to Sell?

Shares of Uber Technologies, Inc. (NYSE:UBER) were down 2.2% on Thursday. The stock traded as low as $68.92 and last traded at $69.1460. 13,825,172 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 18,979,941 shares. The stock had previously closed at $70.68.

Top Uber Technologies Stories

Here are a few of the latest stories about UBER:

• Positive Sentiment: Uber and McDonald’s are expanding their delivery partnership across 14 markets. Uber is slated to be the preferred delivery provider for orders through McDonald’s’ app, with shared loyalty rewards also planned—potentially supporting order volume, Uber Direct adoption, and customer retention. Uber expands McDonald’s delivery partnership
• Positive Sentiment: Uber has also signed a food-delivery partnership with Amazon, adding another potential channel for delivery growth; the report provides few details on the deal’s scope. Uber and Amazon food delivery partnership
• Neutral Sentiment: Uber’s UK banking partner Griffin raised $20 million to develop card and stablecoin services. The financing may support the partner’s capabilities, but the report does not describe a direct financial benefit to Uber. Uber’s UK banking partner Griffin raises funding

Analyst Ratings Changes

UBER has been the topic of several recent analyst reports. Daiwa Securities Group reduced their price objective on shares of Uber Technologies from $80.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Jefferies Financial Group raised their target price on shares of Uber Technologies from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 10th. BNP Paribas Exane reduced their price target on shares of Uber Technologies from $108.00 to $106.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Thursday, November 5th. Finally, Arete Research downgraded shares of Uber Technologies from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.08.

Uber Technologies Stock Down 2.2%

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $141.19 billion, a PE ratio of 40.92, a PEG ratio of 2.60 and a beta of 1.33. The company has a fifty day moving average price of $69.78 and a 200-day moving average price of $72.84.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Uber Technologies had a net margin of 6.13% and a return on equity of 21.37%. The firm had revenue of $14.77 billion during the quarter, compared to analyst estimates of $14.66 billion. During the same period last year, the firm posted $3.11 earnings per share. Uber Technologies’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts expect that Uber Technologies, Inc. will post 3.27 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Andrew Macdonald bought 70,000 shares of Uber Technologies stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of $75.83 per share, for a total transaction of $5,308,100.00. Following the acquisition, the insider directly owned 426,320 shares in the company, valued at approximately $32,327,845.60. This represents a 19.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dara Khosrowshahi acquired 141,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were bought at an average price of $70.96 per share, for a total transaction of $10,005,360.00. Following the completion of the transaction, the chief executive officer owned 1,367,100 shares of the company’s stock, valued at approximately $97,009,416. This trade represents a 11.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently made changes to their positions in UBER. Public Investment Fund bought a new position in Uber Technologies in the 2nd quarter valued at $5,256,173,439. Legal & General Group Plc bought a new stake in shares of Uber Technologies in the 2nd quarter valued at about $943,167,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Uber Technologies in the 2nd quarter worth approximately $752,151,000. Baird Financial Group Inc. lifted its position in shares of Uber Technologies by 64.4% in the 2nd quarter. Baird Financial Group Inc. now owns 9,099,343 shares of the ride-sharing company’s stock worth $656,609,000 after purchasing an additional 3,564,073 shares during the period. Finally, Fundsmith LLP bought a new position in shares of Uber Technologies during the second quarter valued at approximately $645,338,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Company Profile

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.