Uber Technologies (NYSE:UBER) Shares Down 0.7% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) traded down 0.7% during trading on Tuesday . The stock traded as low as $68.21 and last traded at $68.85. 6,313,209 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 18,246,969 shares. The stock had previously closed at $69.33.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Uber Technologies from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $92.00 target price on shares of Uber Technologies in a research report on Friday, October 11th. TD Cowen boosted their price target on Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, DA Davidson increased their price objective on Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Stock Up 0.1 %

The firm’s fifty day moving average price is $75.47 and its 200-day moving average price is $71.11. The company has a market cap of $146.20 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 0.73 and a beta of 1.34. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. The business had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. Uber Technologies’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. Sell-side analysts predict that Uber Technologies, Inc. will post 1.83 earnings per share for the current year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the transaction, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. This trade represents a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently bought and sold shares of UBER. M&T Bank Corp grew its position in Uber Technologies by 4.8% in the third quarter. M&T Bank Corp now owns 175,104 shares of the ride-sharing company’s stock valued at $13,161,000 after purchasing an additional 7,968 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in Uber Technologies by 11.7% during the third quarter. Soltis Investment Advisors LLC now owns 3,912 shares of the ride-sharing company’s stock worth $294,000 after acquiring an additional 410 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Uber Technologies by 117.4% during the third quarter. Rehmann Capital Advisory Group now owns 9,893 shares of the ride-sharing company’s stock valued at $746,000 after purchasing an additional 5,342 shares during the last quarter. TD Private Client Wealth LLC boosted its position in Uber Technologies by 5.9% during the third quarter. TD Private Client Wealth LLC now owns 64,960 shares of the ride-sharing company’s stock valued at $4,882,000 after purchasing an additional 3,615 shares during the last quarter. Finally, Hobbs Group Advisors LLC increased its position in shares of Uber Technologies by 14.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,593 shares of the ride-sharing company’s stock worth $120,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.