Uber Technologies (NYSE:UBER) Shares Down 4.3% on 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)'s stock price fell 4.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $93.77 and last traded at $93.63. 7,664,846 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 21,285,275 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 shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UBER. BMO Capital Markets raised their price target on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Canaccord Genuity Group reiterated a "hold" rating and set a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Stifel Nicolaus increased their price objective on shares of Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Bank of America increased their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Cowen reiterated a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Stock Performance

The company has a market capitalization of $196.06 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.13 and a beta of 1.43. The stock's 50-day moving average price is $92.67 and its 200-day moving average price is $84.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. As a group, equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Institutional Trading of Uber Technologies

Several hedge funds have recently bought and sold shares of the company. Kilter Group LLC acquired a new position in Uber Technologies during the 2nd quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth about $27,000. Kozak & Associates Inc. raised its position in shares of Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies during the 1st quarter worth about $27,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Uber Technologies during the 1st quarter worth about $27,000. 80.24% of the stock is currently owned by institutional investors.

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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