Uber Technologies (NYSE:UBER) Stock Price Down 4.9% After Insider Selling

Key Points

• Uber Technologies' stock fell 4.3% to $93.63 after CEO Dara Khosrowshahi sold 300,000 shares, reducing his ownership by nearly 21%.
• Despite the drop, several research firms have maintained positive outlooks, with BMO Capital Markets raising its price target from $101 to $113 and notable "buy" ratings from other analysts.
• Uber's recent earnings report showed a profit of $0.63 per share and an 18.2% year-over-year revenue increase, highlighting continued growth despite insider selling.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) fell 4.9% on Wednesday following insider selling activity. The company traded as low as $92.12 and last traded at $93.07. 43,880,992 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 21,506,832 shares. The stock had previously closed at $97.83.

Specifically, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

A number of analysts recently commented on UBER shares. Piper Sandler lifted their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada boosted their price target on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. UBS Group upped their target price on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $84.00 target price (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Finally, Stifel Nicolaus boosted their price target on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One research 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Stock Performance

The company has a market cap of $205.79 billion, a P/E ratio of 16.81, a PEG ratio of 1.09 and a beta of 1.43. The company has a 50 day moving average price of $92.63 and a 200-day moving average price of $85.32. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) 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 company had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The company's revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UBER. Kilter Group LLC acquired a new stake in shares of Uber Technologies in the second quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the fourth quarter valued at $27,000. Kozak & Associates Inc. lifted its holdings in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of Uber Technologies in the first quarter valued at $27,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Uber Technologies in the first quarter valued at $27,000. 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.