Uber Technologies (NYSE:UBER) Stock Price Down 5.4% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER) shares fell 5.4% during trading on Thursday . The stock traded as low as $70.25 and last traded at $70.51. 7,951,469 shares changed hands during trading, a decline of 60% from the average session volume of 20,050,079 shares. The stock had previously closed at $74.50.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a research report on Wednesday, February 5th. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, DA Davidson decreased their target price on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.41.

Uber Technologies Trading Down 7.7 %

The company’s 50-day simple moving average is $73.75 and its 200 day simple moving average is $71.76. 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 firm has a market capitalization of $134.92 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total value of $1,644,599.08. Following the completion of the sale, the insider now directly owns 114,241 shares in the company, valued at $8,027,715.07. This trade represents a 17.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares in the company, valued at $1,662,150. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,154 shares of company stock worth $5,793,869 in the last ninety days. 3.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBER. Capital Research Global Investors raised its stake in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the last quarter. Norges Bank acquired a new position in Uber Technologies in the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC raised its position in Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after buying an additional 7,137,512 shares during the last quarter. Boston Partners purchased a new position in Uber Technologies during the 4th quarter worth approximately $381,057,000. Finally, Assenagon Asset Management S.A. lifted its stake in Uber Technologies by 670.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after acquiring an additional 5,753,637 shares during the period. Hedge funds and other 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.