Uber Technologies (NYSE:UBER) Stock Price Down 0.7%

Shares of Uber Technologies, Inc. (NYSE:UBER) fell 0.7% during mid-day trading on Tuesday . The stock traded as low as $73.58 and last traded at $73.66. 2,864,070 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 18,937,242 shares. The stock had previously closed at $74.18.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of Uber Technologies in a research note on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $90.00 target price on the stock. Morgan Stanley raised their target price on shares of Uber Technologies from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Melius assumed coverage on shares of Uber Technologies in a research report on Monday, July 22nd. They set a “hold” rating and a $77.00 price target on the stock. Finally, Loop Capital reduced their price target on shares of Uber Technologies from $88.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.47.

Uber Technologies Stock Performance

The stock’s 50-day moving average is $69.07 and its 200-day moving average is $71.29. The stock has a market cap of $153.18 billion, a price-to-earnings ratio of 118.24, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. Uber Technologies’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts anticipate that Uber Technologies, Inc. will post 1.04 EPS for the current fiscal year.

Insider Activity

In related news, insider Tony West sold 89,234 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the completion of the sale, the insider now directly owns 124,945 shares of the company’s stock, valued at approximately $8,518,750.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tony West sold 89,234 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $68.18, for a total transaction of $6,083,974.12. Following the transaction, the insider now directly owns 124,945 shares of the company’s stock, valued at $8,518,750.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,234 shares of company stock valued at $44,017,734. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Uber Technologies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company’s stock valued at $13,184,793,000 after purchasing an additional 3,623,951 shares during the last quarter. Capital World Investors lifted its position in Uber Technologies by 0.7% in the 4th quarter. Capital World Investors now owns 40,610,127 shares of the ride-sharing company’s stock valued at $2,500,366,000 after purchasing an additional 283,802 shares during the last quarter. Capital Research Global Investors lifted its position in Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company’s stock valued at $3,075,562,000 after purchasing an additional 3,019,431 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Uber Technologies by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. Finally, Norges Bank bought a new stake in Uber Technologies in the 4th quarter valued at about $1,415,778,000. 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.