Uber Technologies (NYSE:UBER) Shares Down 1.9% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares were down 1.9% during mid-day trading on Wednesday . The company traded as low as $64.83 and last traded at $64.92. Approximately 9,553,491 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 26,200,803 shares. The stock had previously closed at $66.15.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UBER. JMP Securities lowered shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a research report on Thursday, January 2nd. Daiwa Capital Markets downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Thursday, October 17th. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Thursday, October 31st. Finally, Oppenheimer raised their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Uber Technologies Stock 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 company has a market capitalization of $136.68 billion, a P/E ratio of 32.29, a P/E/G ratio of 0.75 and a beta of 1.36. The business has a 50-day moving average of $67.49 and a 200-day moving average of $70.63.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Insider Activity

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies 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 completion of the sale, the insider now owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co raised its holdings in shares of Uber Technologies by 12.3% in the 3rd quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company’s stock valued at $87,000 after purchasing an additional 127 shares in the last quarter. Procyon Advisors LLC lifted its holdings in Uber Technologies by 2.1% during the third quarter. Procyon Advisors LLC now owns 6,326 shares of the ride-sharing company’s stock worth $476,000 after buying an additional 131 shares during the period. DT Investment Partners LLC boosted its position in Uber Technologies by 21.4% during the 3rd quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company’s stock valued at $62,000 after acquiring an additional 145 shares in the last quarter. Jmac Enterprises LLC increased its holdings in shares of Uber Technologies by 2.1% in the 3rd quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock valued at $552,000 after acquiring an additional 150 shares during the period. Finally, Wealthspire Advisors LLC raised its position in shares of Uber Technologies by 0.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 24,893 shares of the ride-sharing company’s stock worth $1,809,000 after acquiring an additional 151 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other 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.