Uber Technologies (NYSE:UBER) Shares Down 1.9% - Here's What Happened

Key Points

• Shares of Uber Technologies (NYSE:UBER) fell by 1.9% during mid-day trading, reaching a low of $90.10.
• Analysts have mixed ratings on Uber, with Morgan Stanley upgrading its price target to $115.00, while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.
• Uber reported a quarterly EPS of $0.63, surpassing expectations, with revenues of $12.65 billion for the quarter, marking an 18.2% increase year-over-year.

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) were down 1.9% during mid-day trading on Friday . The company traded as low as $90.10 and last traded at $90.23. Approximately 6,934,473 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 21,514,129 shares. The stock had previously closed at $91.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on UBER shares. 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. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Raymond James Financial boosted 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 note on Thursday, August 7th. Finally, Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Stock Down 1.2%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $189.54 billion, a PE ratio of 15.48, a PEG ratio of 1.07 and a beta of 1.43. The company's 50 day simple moving average is $92.43 and its 200-day simple moving average is $83.95.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly 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 firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,696 shares of company stock worth $4,632,774. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors have recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. lifted its position in shares of Uber Technologies by 11,354.8% in 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 position in shares of Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after purchasing an additional 3,073 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after purchasing an additional 6,129 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of Uber Technologies in the 4th quarter worth about $1,875,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of Uber Technologies in the 1st quarter worth about $943,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

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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