Uber Technologies (NYSE:UBER) Shares Down 1.4% - Time to Sell?

Key Points

• Uber Technologies shares dropped by 1.4%, closing at $86.56, with a significant decline in trading volume, suggesting a potential lack of investor confidence.
• A majority of analysts hold a positive outlook on Uber, with 29 analysts rating it as a buy and a consensus price target of $100.71.
• Insider selling activity has been noted, with CFO Prashanth Mahendra-Rajah disposing of 2,750 shares, indicating potential concerns about stock performance from company executives.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares fell 1.4% on Friday . The company traded as low as $85.42 and last traded at $86.56. 5,331,332 shares were traded during trading, a decline of 76% from the average session volume of 22,162,242 shares. The stock had previously closed at $87.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UBER. Cantor Fitzgerald reissued an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a report on Wednesday, June 25th. Royal Bank Of Canada restated an "outperform" rating and set a $82.00 price target on shares of Uber Technologies in a research report on Monday, May 5th. Wedbush reaffirmed a "neutral" rating and set a $85.00 price objective on shares of Uber Technologies in a research note on Friday. Tigress Financial set a $110.00 price target on shares of Uber Technologies and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.71.

Uber Technologies Trading Down 1.7%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day simple moving average of $89.14 and a two-hundred day simple moving average of $80.14. The stock has a market cap of $180.43 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.01 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider owned 102,135 shares of the company's stock, valued at $8,786,674.05. This trade represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,384 shares of company stock worth $3,496,071 over the last ninety days. 3.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently added to or reduced their stakes in UBER. Capital Research Global Investors increased its holdings in Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies during the first quarter valued at approximately $2,207,743,000. Kingstone Capital Partners Texas LLC increased its holdings in shares of Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Uber Technologies by 2,571.2% during the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

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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