Uber Technologies (NYSE:UBER) Shares Down 3.5% After Insider Selling

Key Points

• Uber Technologies' shares fell by 3.5% following insider sales, with key executives Tony West and Jill Hazelbaker selling a total of 34,375 shares between them.
• Goldman Sachs and Citigroup both raised their price targets for Uber to $110.00 and $102.00 respectively, contributing to a consensus rating of "Moderate Buy" among analysts.
• In its latest earnings report, Uber reported $12.65 billion in revenue for the quarter, exceeding analyst expectations, with a year-over-year revenue growth of 18.2%.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) was down 3.5% during trading on Friday after an insider sold shares in the company. The stock traded as low as $91.82 and last traded at $92.60. Approximately 8,209,301 shares traded hands during trading, a decline of 62% from the average daily volume of 21,675,941 shares. The stock had previously closed at $95.96.

Specifically, insider Tony West sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the sale, the insider owned 170,269 shares of the company's stock, valued at $16,175,555. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. The Goldman Sachs Group raised their price objective on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Citigroup raised their target price on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Tigress Financial set a $110.00 price target on Uber Technologies and gave the company a "buy" rating in a report on Friday, May 23rd. Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Finally, Wall Street Zen cut 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 issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.82.

Uber Technologies Stock Down 3.8%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $192.60 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.09 and a beta of 1.43. The firm has a 50-day moving average price of $92.01 and a 200 day moving average price of $83.46.

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

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC grew its holdings in Uber Technologies by 21.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 74,222 shares of the ride-sharing company's stock worth $6,925,000 after acquiring an additional 12,887 shares during the period. Munro Partners acquired a new stake in Uber Technologies during the 2nd quarter worth about $96,294,000. Provident Investment Management Inc. grew its holdings in Uber Technologies by 7.5% during the 2nd quarter. Provident Investment Management Inc. now owns 359,473 shares of the ride-sharing company's stock worth $33,539,000 after acquiring an additional 25,227 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new stake in Uber Technologies during the 2nd quarter worth about $2,346,000. Finally, Nautilus Advisors LLC grew its holdings in Uber Technologies by 15.5% during the 2nd quarter. Nautilus Advisors LLC now owns 4,517 shares of the ride-sharing company's stock worth $421,000 after acquiring an additional 606 shares during the period. 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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