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

Uber Technologies, Inc. (NYSE:UBER) shares were down 0.4% during trading on Friday . The company traded as low as $67.79 and last traded at $68.28. Approximately 8,688,001 shares were traded during trading, a decline of 67% from the average daily volume of 26,077,301 shares. The stock had previously closed at $68.58.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on UBER shares. KeyCorp lowered their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Uber Technologies in a research note on Thursday, October 31st. Raymond James assumed coverage on shares of Uber Technologies in a research note on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective for the company. Daiwa America lowered shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Wolfe Research lifted their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average target price of $91.53.

Uber Technologies Price Performance

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 firm has a market cap of $141.71 billion, a PE ratio of 33.48, a P/E/G ratio of 0.71 and a beta of 1.36. The business’s fifty day moving average is $66.24 and its 200-day moving average is $70.36.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that Uber Technologies, Inc. will post 1.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its holdings in shares of Uber Technologies by 138.7% in the 2nd quarter. Intech Investment Management LLC now owns 108,598 shares of the ride-sharing company’s stock worth $7,893,000 after buying an additional 63,093 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Uber Technologies by 6.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,236 shares of the ride-sharing company’s stock worth $2,052,000 after purchasing an additional 1,717 shares during the period. Hollencrest Capital Management raised its holdings in Uber Technologies by 31.0% during the 2nd quarter. Hollencrest Capital Management now owns 2,809 shares of the ride-sharing company’s stock valued at $204,000 after buying an additional 665 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Uber Technologies by 25.8% during the second quarter. AE Wealth Management LLC now owns 125,435 shares of the ride-sharing company’s stock valued at $9,117,000 after acquiring an additional 25,692 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Uber Technologies by 3.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 381,485 shares of the ride-sharing company’s stock worth $27,772,000 after buying an additional 14,121 shares during the period. Institutional investors own 80.24% of the company’s stock.

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.