Uber Technologies (NYSE:UBER) Trading Down 1.2% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price dropped 1.2% on Friday . The stock traded as low as $60.50 and last traded at $60.67. Approximately 8,994,130 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 18,848,064 shares. The stock had previously closed at $61.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UBER shares. Evercore ISI lifted their target price on shares of Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Loop Capital boosted their target price on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Finally, DA Davidson lifted their price target on shares of Uber Technologies from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50-day simple moving average of $73.82 and a 200-day simple moving average of $71.35. The firm has a market cap of $127.99 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 0.76 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last issued its earnings results 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. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. Analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its holdings in shares of Uber Technologies by 222.7% during the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 245 shares in the last quarter. WR Wealth Planners LLC raised its stake in Uber Technologies by 563.9% in the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Uber Technologies by 1,038.5% in the second quarter. MCF Advisors LLC now owns 444 shares of the ride-sharing company’s stock valued at $32,000 after purchasing an additional 405 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of Uber Technologies in the second quarter worth about $36,000. Finally, NewSquare Capital LLC boosted its holdings in shares of Uber Technologies by 1,509.4% in the 2nd quarter. NewSquare Capital LLC now owns 515 shares of the ride-sharing company’s stock valued at $37,000 after acquiring an additional 483 shares during the last quarter. 80.24% of the stock is 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.