Uber Technologies (NYSE:UBER) Trading Down 0.2% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s share price traded down 0.2% during trading on Thursday . The company traded as low as $70.56 and last traded at $71.06. 3,048,510 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 19,510,466 shares. The stock had previously closed at $71.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KGI Securities reaffirmed a “neutral” rating and issued a $78.00 target price on shares of Uber Technologies in a report on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Piper Sandler reissued an “overweight” rating and issued a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Price Performance

The company has a market capitalization of $149.71 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.89 and a beta of 1.39. The company’s 50 day simple moving average is $71.85 and its 200-day simple moving average is $71.56. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last released its quarterly 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 research analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the firm’s 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 sale, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky boosted its position in shares of Uber Technologies by 4.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 321,726 shares of the ride-sharing company’s stock worth $24,180,000 after acquiring an additional 13,433 shares during the last quarter. Aviso Wealth Management acquired a new stake in shares of Uber Technologies in the third quarter worth approximately $2,302,000. Polianta Ltd acquired a new stake in shares of Uber Technologies in the fourth quarter worth approximately $1,206,000. Allworth Financial LP boosted its position in shares of Uber Technologies by 8.9% in the fourth quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock worth $1,229,000 after acquiring an additional 1,663 shares during the last quarter. Finally, Brophy Wealth Management LLC acquired a new stake in shares of Uber Technologies in the third quarter worth approximately $1,041,000. 80.24% of the stock is owned by institutional investors and hedge funds.

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.