Uber Technologies (NYSE:UBER) Trading Down 4.9% After Insider Selling

Key Points

• Uber Technologies' shares dropped 4.9% due to insider selling, particularly by CEO Dara Khosrowshahi, who sold 300,000 shares last week, decreasing his ownership by almost 21%.
• Despite the recent decline, multiple analysts have raised their price targets for Uber, with estimates reaching as high as $117.00, maintaining an overall consensus rating of "Moderate Buy."
• Uber's recent earnings report showed better-than-expected performance with a revenue of $12.65 billion and earnings per share (EPS) of $0.63, surpassing analyst estimates.

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) traded down 4.9% on Wednesday after an insider sold shares in the company. The company traded as low as $92.12 and last traded at $93.07. 43,880,992 shares changed hands during trading, an increase of 104% from the average session volume of 21,506,832 shares. The stock had previously closed at $97.83.

Specifically, CEO Dara Khosrowshahi sold 300,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer owned 1,132,544 shares of the company's stock, valued at approximately $108,010,721.28. This trade represents a 20.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UBER shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. UBS Group lifted their price target on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. BMO Capital Markets lifted their price target on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Needham & Company LLC lifted their price target on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Piper Sandler lifted their price target on Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Trading Up 4.2%

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 firm has a market cap of $205.79 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.09 and a beta of 1.43. The business has a 50-day moving average of $92.63 and a 200-day moving average of $85.32.

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

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UBER. Kilter Group LLC bought a new stake in shares of Uber Technologies during the second quarter worth approximately $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies during the fourth quarter worth approximately $27,000. Kozak & Associates Inc. boosted its holdings in shares of Uber Technologies by 155.9% during the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies during the first quarter worth approximately $27,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Uber Technologies during the first quarter worth approximately $27,000. Institutional investors own 80.24% of the company's stock.

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.