Uber Technologies (NYSE:UBER) Shares Down 2% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s share price traded down 2% on Monday . The company traded as low as $73.55 and last traded at $73.73. 3,226,965 shares traded hands during trading, a decline of 86% from the average session volume of 23,293,826 shares. The stock had previously closed at $75.24.

Analyst Upgrades and Downgrades

UBER has been the topic of several research reports. Truist Financial raised their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Citizens Jmp lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research report on Wednesday, April 16th. Arete Research raised Uber Technologies to a “hold” rating in a research report on Tuesday, February 18th. Finally, Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.81.

Uber Technologies Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The company has a fifty day moving average of $74.06 and a two-hundred day moving average of $71.44. The company has a market cap of $149.77 billion, a PE ratio of 15.70, a price-to-earnings-growth 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%. As a group, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the sale, the insider now owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the transaction, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently made changes to their positions in the company. M&T Bank Corp raised its stake in Uber Technologies by 4.8% in the third quarter. M&T Bank Corp now owns 175,104 shares of the ride-sharing company’s stock worth $13,161,000 after buying an additional 7,968 shares in the last quarter. Invst LLC lifted its stake in shares of Uber Technologies by 5.0% during the 3rd quarter. Invst LLC now owns 4,108 shares of the ride-sharing company’s stock worth $309,000 after purchasing an additional 197 shares during the last quarter. Advisory Resource Group grew its stake in Uber Technologies by 1.6% in the third quarter. Advisory Resource Group now owns 13,993 shares of the ride-sharing company’s stock valued at $1,052,000 after purchasing an additional 222 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Uber Technologies during the third quarter valued at about $1,328,000. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Uber Technologies by 3.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 30,280 shares of the ride-sharing company’s stock valued at $2,276,000 after buying an additional 875 shares in the last quarter. 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.