Uber Technologies (NYSE:UBER) Trading Down 4.3% - Here's Why

Key Points

• Uber Technologies' stock fell by 4.3% to around $86.67, with trading volume down by 52% compared to its average.
• Analyst ratings on Uber are mostly positive, with 29 buy ratings and an average target price of $100.71.
• Recent insider sales include CFO Prashanth Mahendra-Rajah selling 2,750 shares and Jill Hazelbaker selling 34,884 shares, indicating significant insider transactions.

Uber Technologies, Inc. (NYSE:UBER - Get Free Report) dropped 4.3% during trading on Tuesday . The company traded as low as $86.65 and last traded at $86.67. Approximately 10,649,684 shares were traded during trading, a decline of 52% from the average daily volume of 22,250,627 shares. The stock had previously closed at $90.60.

Wall Street Analyst Weigh In

UBER has been the topic of several recent analyst reports. Roth Capital boosted their target price on Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Raymond James Financial lowered Uber Technologies from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, June 18th. TD Cowen lowered their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price target on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Loop Capital reissued a "buy" rating and set a $105.00 price objective (up previously from $89.00) on shares of Uber Technologies in a research report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $100.71.

Uber Technologies Price Performance

The stock has a market cap of $181.92 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.05 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The stock's 50 day simple moving average is $89.25 and its two-hundred day simple moving average is $79.89.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The company had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company earned ($0.32) EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was 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 in the company, valued at $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the sale, the insider directly owned 102,135 shares of the company's stock, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,384 shares of company stock worth $3,496,071. Company insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors raised its position in shares of 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 last quarter. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies in the 1st quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC grew its holdings in shares of Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after buying an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. lifted its position in 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 buying an additional 6,254,898 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Institutional investors and hedge funds 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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