Uber Technologies (NYSE:UBER) Shares Down 5.5% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) dropped 5.5% during trading on Friday . The stock traded as low as $63.94 and last traded at $65.98. Approximately 10,864,062 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 20,080,095 shares. The stock had previously closed at $69.85.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DA Davidson cut their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Fox Advisors downgraded shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.41.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The business has a 50-day moving average of $73.75 and a 200-day moving average of $71.75. The company has a market capitalization of $134.92 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies 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 transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tony West sold 23,404 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,154 shares of company stock worth $5,793,869 over the last 90 days. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Avion Wealth increased its stake in shares of Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after buying an additional 218 shares during the period. Transce3nd LLC purchased a new stake in Uber Technologies in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in Uber Technologies during the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. purchased a new position in Uber Technologies during the 4th quarter valued at about $28,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 223 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

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.