Uber Technologies (NYSE:UBER) Trading Down 2.2% - Here's What Happened

Key Points

• Uber Technologies' stock declined by 2.2%, trading as low as $91.18, with a total of approximately 17.15 million shares exchanged, down 18% from its average daily volume.
• Several analysts raised their price targets for Uber, with forecasts now ranging between $100.00 and $117.00, emphasizing a consensus rating of "Moderate Buy."
• Insider transactions revealed notable activity, with key executives selling significant amounts of stock, including a 31,250-share sale by insider Jill Hazelbaker, indicating a 26.53% decrease in her ownership.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) dropped 2.2% during trading on Thursday . The stock traded as low as $91.18 and last traded at $92.47. Approximately 17,152,733 shares traded hands during trading, a decline of 18% from the average daily volume of 20,978,459 shares. The stock had previously closed at $94.52.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Susquehanna upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Sanford C. Bernstein lifted their price target on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. UBS Group raised their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price target on shares of Uber Technologies from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Barclays reissued an "overweight" rating and set a $110.00 price objective (up from $97.00) on shares of Uber Technologies in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.06.

Uber Technologies Stock Performance

The stock has a market cap of $192.84 billion, a price-to-earnings ratio of 15.75 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock's 50-day moving average is $95.17 and its 200-day moving average is $88.23.

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

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,250 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer directly owned 22,528 shares in the company, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 601,821 shares of company stock valued at $58,659,491. 3.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Carnegie Investment Counsel lifted its position in shares of Uber Technologies by 20.0% during the third quarter. Carnegie Investment Counsel now owns 514,301 shares of the ride-sharing company's stock worth $50,386,000 after purchasing an additional 85,550 shares in the last quarter. Griffin Asset Management Inc. grew its stake in Uber Technologies by 2.1% during the 3rd quarter. Griffin Asset Management Inc. now owns 53,911 shares of the ride-sharing company's stock valued at $5,282,000 after purchasing an additional 1,094 shares in the last quarter. LeConte Wealth Management LLC purchased a new stake in Uber Technologies during the 3rd quarter worth approximately $261,000. Darwin Wealth Management LLC raised its position in shares of Uber Technologies by 1.1% in the 3rd quarter. Darwin Wealth Management LLC now owns 16,085 shares of the ride-sharing company's stock valued at $1,576,000 after purchasing an additional 178 shares in the last quarter. Finally, HBW Advisory Services LLC raised its holdings in Uber Technologies by 4.5% in the third quarter. HBW Advisory Services LLC now owns 29,628 shares of the ride-sharing company's stock valued at $2,903,000 after acquiring an additional 1,274 shares in the last quarter. Hedge funds and other 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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