Uber Technologies (NYSE:UBER) Shares Gap Down – Time to Sell?

Shares of Uber Technologies, Inc. (NYSE:UBER) gapped down before the market opened on Thursday . The stock had previously closed at $66.75, but opened at $63.42. Uber Technologies shares last traded at $66.55, with a volume of 7,008,718 shares.

Wall Street Analyst Weigh In

UBER has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Uber Technologies in a research report on Monday, January 27th. Bank of America boosted their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday. Truist Financial lowered their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler reduced their price objective on Uber Technologies from $98.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.08.

Uber Technologies Price Performance

The company’s 50-day simple moving average is $65.71 and its 200-day simple moving average is $70.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $140.79 billion, a price-to-earnings ratio of 33.26, a P/E/G ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 1.85 EPS for the current year.

Insider Transactions at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Uber Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after acquiring an additional 893,652 shares during the period. Edgewood Management LLC raised its position in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. Jennison Associates LLC lifted its holdings in shares of Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Janus Henderson Group PLC boosted its position in Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing an additional 2,056,273 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Uber Technologies by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after buying an additional 1,601,747 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

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.