Uber Technologies (NYSE:UBER) Stock Price Down 1.1% Following Analyst Downgrade

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price dropped 1.1% on Friday after UBS Group lowered their price target on the stock from $100.00 to $95.00. UBS Group currently has a buy rating on the stock. Uber Technologies traded as low as $66.40 and last traded at $67.18. Approximately 7,008,373 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 20,477,012 shares. The stock had previously closed at $67.93.

Several other analysts also recently issued reports on UBER. Susquehanna upped their price objective on Uber Technologies from $60.00 to $85.00 and gave the company a "positive" rating in a research report on Thursday, February 8th. Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Uber Technologies from $95.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday. Bank of America reduced their price target on Uber Technologies from $91.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $85.00 target price on shares of Uber Technologies in a research note on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 20,000 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the transaction, the insider now directly owns 107,290 shares in the company, valued at approximately $8,350,380.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Tony West sold 18,750 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $70.08, for a total value of $1,314,000.00. Following the completion of the sale, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the transaction, the insider now directly owns 107,290 shares in the company, valued at $8,350,380.70. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Uber Technologies by 2.2% during the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company's stock worth $13,184,793,000 after buying an additional 3,623,951 shares in the last quarter. Hoey Investments Inc. increased its position in shares of Uber Technologies by 2.7% during the first quarter. Hoey Investments Inc. now owns 71,449 shares of the ride-sharing company's stock valued at $5,501,000 after purchasing an additional 1,887 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in Uber Technologies by 45.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 13,308 shares of the ride-sharing company's stock worth $1,025,000 after purchasing an additional 4,153 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Uber Technologies in the first quarter valued at about $47,755,000. Finally, Pinkerton Retirement Specialists LLC bought a new stake in Uber Technologies during the 1st quarter worth about $522,000. 80.24% of the stock is owned by institutional investors.

Uber Technologies Stock Down 1.4 %

The firm's 50-day simple moving average is $74.57 and its two-hundred day simple moving average is $65.85. The stock has a market cap of $139.39 billion, a price-to-earnings ratio of 78.05, a PEG ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.19 and a current ratio of 1.19.

Uber Technologies (NYSE:UBER - Get Free Report) last posted 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 return on equity of 18.95% and a net margin of 5.06%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter last year, the firm earned ($0.08) EPS. The business's revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts expect that Uber Technologies, Inc. will post 1.23 EPS for the current fiscal year.

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.