Uber Technologies (NYSE:UBER) Stock Price Down 1.6% - Should You Sell?

Key Points

• Uber Technologies' stock price fell by 1.6%, trading at $97.78 after hitting a low of $97.65 with a significant decline in trading volume.
• Equities analysts have shown mixed sentiments, with Wells Fargo raising its price target to $127.00 while other firms like Wedbush set a lower target of $84.00, leading to an average consensus price target of $103.06.
• Insider trading activity showed a notable selling trend, with key insiders offloading a total of 354,571 shares in the last quarter, indicating potential concerns about the stock's performance.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) traded down 1.6% during trading on Tuesday . The company traded as low as $97.65 and last traded at $97.78. 15,058,289 shares changed hands during trading, a decline of 30% from the average session volume of 21,622,273 shares. The stock had previously closed at $99.39.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Uber Technologies from $119.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Wedbush decreased their price objective on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Susquehanna lifted their price objective on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Piper Sandler lifted their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets lifted their price objective on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One investment 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's stock. According to MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Stock Down 1.6%

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $203.90 billion, a PE ratio of 16.66 and a beta of 1.43. The stock has a fifty day simple moving average of $92.74 and a two-hundred day simple moving average of $85.61.

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 for the quarter, beating 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 firm had revenue of $12.65 billion for the quarter, compared to analysts' expectations of $12.45 billion. During the same quarter last year, the firm posted $0.47 EPS. The company's revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $93.94, for a total value of $293,562.50. Following the completion of the transaction, the insider owned 171,558 shares of the company's stock, valued at $16,116,158.52. The trade was a 1.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction 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 directly owned 86,531 shares of the company's stock, valued at $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. Insiders sold a total of 354,571 shares of company stock valued at $33,810,741 over the last quarter. Company insiders own 3.70% of the company's stock.

Institutional Trading of Uber Technologies

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after buying an additional 3,073 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Uber Technologies by 805.4% in the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after purchasing an additional 91,362 shares during the last quarter. Kapstone Financial Advisors LLC purchased a new position in Uber Technologies during the 2nd quarter valued at $415,000. Revolve Wealth Partners LLC lifted its holdings 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 during the period. Finally, Davis Investment Partners LLC purchased a new position in shares of Uber Technologies in the 2nd quarter valued at approximately $435,000. 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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