Uber Technologies (NYSE:UBER) Trading Down 0.4% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) fell 0.4% during trading on Tuesday . The company traded as low as $59.33 and last traded at $59.98. 9,152,574 shares were traded during mid-day trading, a decline of 52% from the average session volume of 19,050,021 shares. The stock had previously closed at $60.25.

Analyst Ratings Changes

A number of brokerages recently weighed in on UBER. Gordon Haskett raised shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Thursday, October 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective on shares of Uber Technologies in a research note on Friday, October 11th. Oppenheimer lifted their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Truist Financial decreased their price target on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Stock Performance

The stock has a market cap of $127.96 billion, a PE ratio of 29.84, a P/E/G ratio of 0.75 and a beta of 1.33. 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 stock has a 50-day simple moving average of $73.25 and a 200-day simple moving average of $71.40.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data 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. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 107,289 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Several large investors have recently added to or reduced their stakes in UBER. First Horizon Advisors Inc. raised its holdings in Uber Technologies by 53.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 5,641 shares of the ride-sharing company’s stock worth $410,000 after acquiring an additional 1,975 shares during the period. Crescent Grove Advisors LLC bought a new position in Uber Technologies during the second quarter valued at about $317,000. KG&L Capital Management LLC acquired a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $607,000. Vicus Capital raised its stake in shares of Uber Technologies by 48.8% in the second quarter. Vicus Capital now owns 6,314 shares of the ride-sharing company’s stock valued at $459,000 after purchasing an additional 2,071 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC boosted its position in shares of Uber Technologies by 228.0% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 8,890 shares of the ride-sharing company’s stock valued at $646,000 after acquiring an additional 6,180 shares in the last quarter. 80.24% of the stock is owned by institutional investors.

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.