Uber Technologies (NYSE:UBER) Trading Down 2.2%

Uber Technologies, Inc. (NYSE:UBER)’s stock price dropped 2.2% on Tuesday . The stock traded as low as $68.88 and last traded at $69.52. Approximately 4,369,392 shares were traded during trading, a decline of 77% from the average daily volume of 19,289,494 shares. The stock had previously closed at $71.10.

Wall Street Analysts Forecast Growth

UBER has been the subject of several recent analyst reports. Wells Fargo & Company increased their target price on Uber Technologies from $89.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America reduced their price objective on Uber Technologies from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a research report on Thursday, May 16th. Roth Mkm reiterated a “buy” rating and issued a $89.00 price objective (down previously from $91.00) on shares of Uber Technologies in a research report on Friday, May 10th. Finally, Citigroup raised their price objective on Uber Technologies from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.41.

Uber Technologies Price Performance

The company has a 50 day moving average price of $67.94 and a 200 day moving average price of $69.89. The company has a market capitalization of $147.37 billion, a price-to-earnings ratio of 112.13, a PEG ratio of 1.59 and a beta of 1.36. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $10.09 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Uber Technologies, Inc. will post 0.85 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 28,000 shares of Uber Technologies stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total transaction of $1,978,760.00. Following the transaction, the insider now directly owns 96,945 shares in the company, valued at $6,851,103.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total transaction of $32,965,000.00. Following the transaction, the chief executive officer now directly owns 1,656,996 shares in the company, valued at $109,245,746.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tony West sold 28,000 shares of Uber Technologies stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the transaction, the insider now owns 96,945 shares in the company, valued at $6,851,103.15. The disclosure for this sale can be found here. Insiders have sold 635,984 shares of company stock worth $42,258,297 in the last three months. Insiders own 3.80% of the company’s stock.

Institutional Trading of Uber Technologies

Institutional investors have recently modified their holdings of the company. Transcend Capital Advisors LLC increased its position in shares of Uber Technologies by 34.8% in the second quarter. Transcend Capital Advisors LLC now owns 51,037 shares of the ride-sharing company’s stock valued at $3,709,000 after acquiring an additional 13,180 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Uber Technologies by 2.7% in the first quarter. EverSource Wealth Advisors LLC now owns 7,354 shares of the ride-sharing company’s stock valued at $566,000 after acquiring an additional 190 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Uber Technologies in the first quarter valued at about $757,000. Soltis Investment Advisors LLC acquired a new stake in shares of Uber Technologies in the first quarter valued at about $238,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Uber Technologies in the first quarter valued at about $24,134,000. 80.24% of the stock is currently owned by institutional investors.

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.