Uber Technologies (NYSE:UBER) Stock Price Down 1.2% - Here's Why

Key Points

• Shares slipped 1.2% to $80.89 on Tuesday with volume ~24.3M (up 17%), trading below the 50- and 200-day simple moving averages (~$91).
• Analysts maintain a consensus "Moderate Buy" rating with an average price target of $108.60, though recent notes include Wells Fargo trimming its target and Erste downgrading to a hold.
• Uber reported a strong quarter — EPS $3.11 vs. $0.67 expected and revenue $13.47B (up 20.4% YoY) — while insiders sold roughly 264,875 shares in the last quarter, including CEO and C-suite transactions.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) shares were down 1.2% during trading on Tuesday . The company traded as low as $80.26 and last traded at $80.8850. Approximately 24,302,551 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 20,694,457 shares. The stock had previously closed at $81.86.

Analysts Set New Price Targets

Several research firms recently weighed in on UBER. Wells Fargo & Company decreased their target price on Uber Technologies from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, November 5th. Cantor Fitzgerald raised their price objective on shares of Uber Technologies from $107.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $108.00 target price on shares of Uber Technologies in a report on Wednesday, October 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $109.00 target price on shares of Uber Technologies in a research report on Tuesday, November 4th. Finally, Erste Group Bank cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a research report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $108.60.

Uber Technologies Stock Down 1.2%

The business has a 50-day simple moving average of $91.41 and a two-hundred day simple moving average of $91.79. The company has a market capitalization of $168.07 billion, a price-to-earnings ratio of 10.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The business had revenue of $13.47 billion during the quarter, compared to analysts' expectations of $13.25 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company's quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the transaction, the chief executive officer directly owned 982,544 shares of the company's stock, valued at $98,726,021.12. This represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tony West sold 100,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 264,875 shares of company stock worth $26,501,255. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently modified their holdings of the business. Measured Wealth Private Client Group LLC purchased a new position in Uber Technologies in the third quarter worth $25,000. Westend Capital Management LLC acquired a new position in shares of Uber Technologies during the 3rd quarter worth $27,000. Kilter Group LLC purchased a new position in shares of Uber Technologies in the 2nd quarter valued at about $26,000. West Oak Capital LLC purchased a new position in shares of Uber Technologies in the 2nd quarter valued at about $28,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Uber Technologies in the second quarter valued at about $30,000. 80.24% of the stock is owned by hedge funds and other 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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