Uber Technologies (NYSE:UBER) Trading Down 5.9% – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) traded down 5.9% on Monday . The company traded as low as $68.43 and last traded at $68.93. 10,729,250 shares were traded during trading, a decline of 41% from the average session volume of 18,145,734 shares. The stock had previously closed at $73.25.

Analysts Set New Price Targets

UBER has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. TD Cowen raised their price target on shares of Uber Technologies from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Loop Capital increased their target price on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI lifted their price objective on Uber Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Price Performance

The firm has a market cap of $145.57 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 0.73 and a beta of 1.34. The business has a 50-day simple moving average of $75.47 and a 200 day simple moving average of $71.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

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 analysts’ consensus estimates of $0.41 by $0.79. The company had revenue of $11.19 billion during 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%. Uber Technologies’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, analysts anticipate that Uber Technologies, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the transaction, the insider now directly owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently bought and sold shares of the stock. Invst LLC raised its position in Uber Technologies by 5.0% during the third quarter. Invst LLC now owns 4,108 shares of the ride-sharing company’s stock valued at $309,000 after purchasing an additional 197 shares during the period. M&T Bank Corp grew its stake in Uber Technologies by 4.8% in the 3rd quarter. M&T Bank Corp now owns 175,104 shares of the ride-sharing company’s stock worth $13,161,000 after acquiring an additional 7,968 shares in the last quarter. Soltis Investment Advisors LLC increased its holdings in Uber Technologies by 11.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 3,912 shares of the ride-sharing company’s stock worth $294,000 after purchasing an additional 410 shares during the period. Rehmann Capital Advisory Group raised its position in Uber Technologies by 117.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 9,893 shares of the ride-sharing company’s stock valued at $746,000 after purchasing an additional 5,342 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Uber Technologies by 5.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 64,960 shares of the ride-sharing company’s stock worth $4,882,000 after buying an additional 3,615 shares in the last quarter. Institutional investors 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.