Uber Technologies (NYSE:UBER) Shares Down 0.4% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares were down 0.4% during mid-day trading on Thursday . The company traded as low as $78.51 and last traded at $79.05. Approximately 5,983,462 shares traded hands during trading, a decline of 80% from the average daily volume of 30,296,219 shares. The stock had previously closed at $79.35.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on UBER shares. Jefferies Financial Group increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Wolfe Research increased their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. 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. Benchmark reissued a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.70.

Uber Technologies Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $167.00 billion, a P/E ratio of 17.39, a PEG ratio of 0.81 and a beta of 1.39. The business has a 50 day simple moving average of $66.01 and a 200-day simple moving average of $70.48.

Uber Technologies (NYSE:UBER) last posted its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Analysts predict that Uber Technologies, Inc. will post 2.4 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated 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 directly owns 107,289 shares in the company, valued at $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB acquired a new position in Uber Technologies during the third quarter worth about $163,468,000. Exchange Traded Concepts LLC grew its holdings in Uber Technologies by 395.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,908 shares of the ride-sharing company’s stock worth $369,000 after acquiring an additional 3,918 shares during the period. Wedge Capital Management L L P NC acquired a new position in Uber Technologies during the third quarter worth about $277,000. Creative Planning grew its holdings in Uber Technologies by 34.0% during the third quarter. Creative Planning now owns 195,163 shares of the ride-sharing company’s stock worth $14,668,000 after acquiring an additional 49,491 shares during the period. Finally, Cornerstone Wealth Management LLC grew its holdings in Uber Technologies by 11.6% during the third quarter. Cornerstone Wealth Management LLC now owns 3,793 shares of the ride-sharing company’s stock worth $285,000 after acquiring an additional 393 shares during the period. 80.24% of the stock is currently 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.