Uber Technologies (NYSE:UBER) Shares Down 6.8% - What's Next?

Key Points

• Uber shares fell 6.8% to about $83.43 on Thursday on heavy trading volume (41.6M shares, roughly double the average), marking a notable pullback from the prior close of $89.53.
• The company beat Q3 estimates with $3.11 EPS (vs. $0.67 expected) and $13.47B in revenue, showing strong profitability (net margin 33.54%, ROE 68.17%); analysts remain largely positive with an average target of $108.26.
• Insiders have been net sellers recently—602,000 shares sold (~$58.7M) over the last 90 days, including sales by the CEO and Tony West, leaving insiders owning 3.84% of the stock.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) fell 6.8% during trading on Thursday . The stock traded as low as $82.94 and last traded at $83.4340. 41,627,788 shares were traded during mid-day trading, an increase of 102% from the average session volume of 20,631,799 shares. The stock had previously closed at $89.53.

Analysts Set New Price Targets

A number of brokerages have weighed in on UBER. Sanford C. Bernstein boosted their target price on Uber Technologies from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Uber Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, November 8th. Stifel Nicolaus set a $122.00 price objective on shares of Uber Technologies in a report on Tuesday, November 4th. Benchmark restated a "hold" rating on shares of Uber Technologies in a report on Tuesday, October 28th. Finally, DA Davidson lifted their target price on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $108.26.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The business has a 50-day simple moving average of $95.27 and a 200 day simple moving average of $91.92. The firm has a market cap of $173.36 billion, a PE ratio of 10.72 and a beta of 1.46.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $2.44. The firm had revenue of $13.47 billion for the quarter, compared to analysts' expectations of $13.25 billion. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. Equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 100,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider directly owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the chief executive officer owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 602,000 shares of company stock worth $58,695,660 over the last ninety days. Company insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in UBER. Measured Wealth Private Client Group LLC bought a new position in Uber Technologies in the 3rd quarter worth approximately $25,000. Kilter Group LLC purchased a new position in shares of Uber Technologies in the second quarter worth $26,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies during the first quarter worth $27,000. Westend Capital Management LLC purchased a new position in Uber Technologies during the third quarter valued at $27,000. Finally, West Oak Capital LLC bought a new stake in Uber Technologies in the 2nd quarter valued at $28,000. 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.

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