Uber Technologies (NYSE:UBER) Stock Price Down 1.6% - Here's Why

Key Points

• The stock price of Uber Technologies fell by 1.6%, closing at $93.94 after reaching as low as $94.39 during trading.
• Despite the recent drop, several analysts maintain a positive outlook on Uber, with multiple firms increasing their price targets, with the consensus price target currently set at $103.06.
• Uber reported quarterly earnings of $0.63 per share, surpassing expectations and marking an 18.2% year-over-year revenue increase to $12.65 billion.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price fell 1.6% on Wednesday . The company traded as low as $94.39 and last traded at $93.94. 4,004,859 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 21,420,225 shares. The stock had previously closed at $95.45.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UBER shares. Needham & Company LLC increased their price target on shares of Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Cowen reissued a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Loop Capital reaffirmed a "buy" rating and issued a $105.00 price target (up from $89.00) on shares of Uber Technologies in a report on Wednesday, May 21st. Wells Fargo & Company upped their price target on Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $115.00 price target (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.06.

Uber Technologies Price Performance

The stock's 50-day moving average price is $92.50 and its 200-day moving average price is $84.24. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $196.00 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43.

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

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction of $261,250.00. Following the sale, the chief financial officer directly owned 21,975 shares of the company's stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,696 shares of company stock valued at $4,632,774. Company insiders own 3.70% of the company's stock.

Institutional Trading of Uber Technologies

Several institutional investors have recently made changes to their positions in UBER. UMB Bank n.a. grew its position in Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after buying an additional 3,073 shares during the period. Revolve Wealth Partners LLC raised its stake in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after buying an additional 6,129 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Uber Technologies in the 4th quarter worth about $1,875,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Uber Technologies in the 1st quarter worth about $943,000. Finally, Exchange Traded Concepts LLC lifted its stake in Uber Technologies by 29.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,939 shares of the ride-sharing company's stock valued at $214,000 after acquiring an additional 667 shares during the period. 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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