Uber Technologies (NYSE:UBER) Stock Price Down 3.3% – Here’s Why

Shares of Uber Technologies, Inc. (NYSE:UBER) fell 3.3% during mid-day trading on Tuesday . The stock traded as low as $73.73 and last traded at $73.92. 6,957,831 shares were traded during mid-day trading, a decline of 75% from the average session volume of 28,061,354 shares. The stock had previously closed at $76.42.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on UBER shares. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, October 31st. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Friday. Wolfe Research raised their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.94.

Uber Technologies Trading Down 2.6 %

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 capitalization of $155.41 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The business has a 50 day simple moving average of $68.37 and a 200-day simple moving average of $71.39.

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, equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently made changes to their positions in the business. Avion Wealth boosted its holdings in Uber Technologies by 96.0% in the 4th quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 218 shares during the period. Transce3nd LLC acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies in the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Uber Technologies in the fourth quarter valued at $28,000. Finally, GHP Investment Advisors Inc. boosted its stake in Uber Technologies by 85.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds 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.