Uber Technologies (NYSE:UBER) Trading Down 1.5% – Here’s Why

Shares of Uber Technologies, Inc. (NYSE:UBER) traded down 1.5% on Monday . The company traded as low as $70.50 and last traded at $71.69. 4,303,355 shares changed hands during trading, a decline of 79% from the average session volume of 20,037,168 shares. The stock had previously closed at $72.75.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UBER. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, February 5th. Wolfe Research boosted their target price on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Evercore ISI dropped their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Citizens Jmp downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Up 0.2 %

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 company has a market cap of $152.43 billion, a PE ratio of 15.97, a P/E/G ratio of 0.89 and a beta of 1.39. The firm has a 50-day simple moving average of $73.44 and a two-hundred day simple moving average of $71.76.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data 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 return on equity of 62.60% and a net margin of 22.41%. Research 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 on 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This trade represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,154 shares of company stock worth $5,793,869 in the last ninety days. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Mascagni Wealth Management Inc. purchased a new position in shares of Uber Technologies during the 4th quarter valued at approximately $44,000. Chancellor Financial Group WB LP bought a new position in Uber Technologies during the 4th quarter valued at $223,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Uber Technologies during the 4th quarter worth $37,476,000. Centaurus Financial Inc. increased its position in shares of Uber Technologies by 438.7% in the 4th quarter. Centaurus Financial Inc. now owns 94,127 shares of the ride-sharing company’s stock worth $5,678,000 after purchasing an additional 76,653 shares during the last quarter. Finally, Castle Rock Wealth Management LLC bought a new position in shares of Uber Technologies during the fourth quarter worth about $1,115,000. 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.