Uber Technologies (NYSE:UBER) Shares Down 1.6% - What's Next?

Key Points

• Uber Technologies' shares dropped 1.6% during trading on Tuesday, closing at $97.94, with a notable decline in trading volume by 22% compared to average levels.
• Analyst ratings remain predominantly positive; UBS raised their target price to $117.00 while maintaining a "buy" rating, contributing to an overall average price target of $104.09.
• CEO Dara Khosrowshahi sold 150,000 shares of Uber stock for approximately $15 million, reflecting a 13.24% decrease in his holdings.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) dropped 1.6% during trading on Tuesday . The company traded as low as $96.65 and last traded at $97.94. Approximately 16,780,026 shares traded hands during trading, a decline of 22% from the average daily volume of 21,402,826 shares. The stock had previously closed at $99.57.

Analyst Ratings Changes

UBER has been the topic of a number of research reports. UBS Group raised their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Roth Capital raised their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Cowen reissued a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Raymond James Financial raised their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $104.09.

Uber Technologies Stock Down 1.6%

The business's 50 day moving average is $93.46 and its 200 day moving average is $86.56. The company has a market capitalization of $204.25 billion, a price-to-earnings ratio of 16.68 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. Sell-side 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 Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 100,000 shares of Uber Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 604,571 shares of company stock worth $58,920,741. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kilter Group LLC purchased a new stake in Uber Technologies during the second quarter worth $26,000. West Oak Capital LLC purchased a new position in Uber Technologies in the second quarter valued at $28,000. Trust Co. of Toledo NA OH purchased a new position in Uber Technologies in the second quarter valued at $30,000. Total Investment Management Inc. purchased a new position in Uber Technologies in the second quarter valued at $32,000. Finally, Noble Wealth Management PBC purchased a new position in Uber Technologies in the first quarter valued at $27,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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