Uber Technologies (NYSE:UBER) Trading Down 3.6% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) traded down 3.6% during trading on Monday . The company traded as low as $74.85 and last traded at $76.02. 9,612,859 shares were traded during mid-day trading, a decline of 66% from the average session volume of 28,255,574 shares. The stock had previously closed at $78.89.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of research analyst reports. Wolfe Research increased their price objective on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. KeyCorp reduced their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Loop Capital increased their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Evercore ISI reduced their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price target on Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.94.

Uber Technologies Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a market cap of $159.28 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.89 and a beta of 1.39. The firm’s 50-day moving average is $68.05 and its two-hundred day moving average is $71.34.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently made changes to their positions in UBER. Capital Research Global Investors raised its position in Uber Technologies by 79.0% in the fourth 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 purchasing an additional 52,125,476 shares during the period. Norges Bank purchased a new position in Uber Technologies during the fourth quarter worth about $1,467,754,000. Jennison Associates LLC increased its position in shares of Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after acquiring an additional 7,137,512 shares during the last quarter. Boston Partners acquired a new position in shares of Uber Technologies in the 4th quarter worth approximately $381,057,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Uber Technologies by 670.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares during the period. 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.