Uber Technologies (NYSE:UBER) Trading Down 1.1% - Here's What Happened

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price fell 1.1% during trading on Wednesday . The stock traded as low as $80.12 and last traded at $84.88. 24,550,588 shares were traded during mid-day trading, an increase of 21% from the average session volume of 20,341,772 shares. The stock had previously closed at $85.83.

Analyst Ratings Changes

UBER has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Wednesday, April 16th. JMP Securities reaffirmed a "market perform" rating on shares of Uber Technologies in a research note on Thursday, February 6th. TD Cowen lowered their price target on Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, DA Davidson reduced their target price on shares of Uber Technologies from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $89.81.

Uber Technologies Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $175.35 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The business's 50 day simple moving average is $74.26 and its two-hundred day simple moving average is $71.47.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the firm posted ($0.32) EPS. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jill Hazelbaker sold 31,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the transaction, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors boosted its holdings in Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock valued at $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Norges Bank acquired a new stake in Uber Technologies in the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC grew its holdings in Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Boston Partners acquired a new stake in shares of Uber Technologies during the 4th quarter worth approximately $381,057,000. Finally, Pacer Advisors Inc. lifted its position in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock worth $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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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