Uber Technologies (NYSE:UBER) Stock Price Down 7.1% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) was down 7.1% on Wednesday . The stock traded as low as $63.65 and last traded at $64.80. Approximately 36,801,964 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 25,980,400 shares. The stock had previously closed at $69.75.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Thursday, October 31st. Daiwa Capital Markets cut Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Thursday, October 17th. Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Bank of America increased their price target on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $90.89.

Uber Technologies Stock Performance

The company’s 50-day simple moving average is $65.46 and its 200-day simple moving average is $70.11. The stock has a market cap of $134.17 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. Analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares of the company’s stock, valued at $7,821,368.10. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AMF Tjanstepension AB bought a new position in shares of Uber Technologies during the third quarter worth $163,468,000. Czech National Bank raised its holdings in shares of Uber Technologies by 7.5% during the third quarter. Czech National Bank now owns 427,983 shares of the ride-sharing company’s stock worth $32,167,000 after acquiring an additional 29,806 shares during the period. GAMMA Investing LLC increased its holdings in Uber Technologies by 12.1% during the 3rd quarter. GAMMA Investing LLC now owns 10,008 shares of the ride-sharing company’s stock worth $752,000 after purchasing an additional 1,082 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Uber Technologies in the third quarter valued at about $1,136,000. Finally, Mather Group LLC. increased its stake in shares of Uber Technologies by 123.1% during the 3rd quarter. Mather Group LLC. now owns 5,357 shares of the ride-sharing company’s stock worth $403,000 after purchasing an additional 2,956 shares during the last quarter. 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.