Uber Technologies (NYSE:UBER) Shares Down 1.4% - Here's What Happened

Key Points

• Uber Technologies' shares experienced a 1.4% drop, trading as low as $89.91 before closing at $90.42, with a significant decline in trading volume compared to average levels.
• Recent analyst ratings varied, with Goldman Sachs raising Uber's price target to $110.00 and Wedbush lowering it to $84.00, indicating mixed sentiments about the stock.
• Uber reported a quarterly EPS of $0.63, exceeding expectations, and a revenue of $12.65 billion, representing an 18.2% increase year-over-year.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price fell 1.4% on Wednesday . The stock traded as low as $89.91 and last traded at $90.42. 4,697,246 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 22,177,621 shares. The stock had previously closed at $91.73.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on UBER shares. The Goldman Sachs Group upped their price objective on Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wedbush lowered their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Royal Bank Of Canada upped their price objective on Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.82.

Uber Technologies Stock Performance

The company has a market cap of $189.71 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.04 and a beta of 1.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock's fifty day simple moving average is $89.77 and its 200 day simple moving average is $81.47.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total value of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Uber Technologies

Several hedge funds have recently made changes to their positions in the company. Clark Capital Management Group Inc. boosted its position in shares of Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after purchasing an additional 399,008 shares during the period. UMB Bank n.a. lifted its holdings in Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after buying an additional 3,073 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after buying an additional 6,129 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in Uber Technologies during the 4th quarter worth approximately $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Uber Technologies during the 1st quarter worth approximately $943,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Company Profile

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.

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