Uber Technologies (NYSE:UBER) Trading Down 3.2% - Time to Sell?

Key Points

• Uber Technologies' stock price fell 3.2% during Thursday trading, closing at $96.06, with a significant decline in trading volume compared to the average.
• Despite the recent stock drop, analysts are optimistic, with targets raised by several firms, averaging a price target of $104.03 and an overall rating of "Moderate Buy."
• In insider trading news, executives have sold a combined total of 601,821 shares in the last quarter, indicating a potential shift in sentiment among company insiders.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s stock price dropped 3.2% during trading on Thursday . The company traded as low as $95.83 and last traded at $96.06. Approximately 13,365,645 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 21,143,941 shares. The stock had previously closed at $99.28.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Roth Capital boosted their price objective on Uber Technologies from $93.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 14th. Bank of America boosted their price objective on Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Sanford C. Bernstein boosted their price objective on Uber Technologies from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Barclays reiterated an "overweight" rating and issued a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Two 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's stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of "Moderate Buy" and an average price target of $104.03.

Uber Technologies Trading Down 3.2%

The company has a 50-day moving average price of $94.73 and a 200-day moving average price of $87.69. The firm has a market capitalization of $200.32 billion, a price-to-earnings ratio of 16.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last released 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 during 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 quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was 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 of the company's stock, valued at $8,343,319.02. This represents a 26.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony West sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider directly owned 171,558 shares of the company's stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 601,821 shares of company stock worth $58,659,491. Insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

A number of large investors have recently made changes to their positions in UBER. Hilltop National Bank purchased a new stake in Uber Technologies during the 2nd quarter valued at approximately $96,000. Geneos Wealth Management Inc. raised its stake in Uber Technologies by 805.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after acquiring an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Uber Technologies by 42.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock valued at $70,822,000 after acquiring an additional 226,960 shares during the last quarter. Kapstone Financial Advisors LLC purchased a new stake in Uber Technologies during the 2nd quarter valued at approximately $415,000. Finally, Revolve Wealth Partners LLC raised its stake in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after acquiring an additional 6,129 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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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