Uber Technologies (NYSE:UBER) Shares Down 2.4% – What’s Next?

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 2.4% during mid-day trading on Friday . The company traded as low as $72.86 and last traded at $73.09. Approximately 2,901,283 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 19,605,588 shares. The stock had previously closed at $74.86.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UBER. Wolfe Research upped their price target 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. Truist Financial increased their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company decreased their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Arete Research raised shares of Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Finally, KGI Securities restated a “neutral” rating and set a $78.00 price objective on shares of Uber Technologies in a research note on Tuesday, March 11th. Ten research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Performance

The firm has a market capitalization of $151.65 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The firm’s fifty day moving average is $73.33 and its 200 day moving average is $71.71.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS 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%. On average, analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This represents a 26.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tony West sold 23,404 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company’s stock, valued at $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,154 shares of company stock valued at $5,793,869. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently made changes to their positions in the business. Capital Research Global Investors increased its position in Uber Technologies by 79.0% in the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the period. Norges Bank bought a new position in Uber Technologies during the fourth quarter worth $1,467,754,000. Jennison Associates LLC raised its stake 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 valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Boston Partners bought a new stake in Uber Technologies in the 4th quarter valued at $381,057,000. Finally, Assenagon Asset Management S.A. grew its position in Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after purchasing an additional 5,753,637 shares during the last quarter. Institutional investors and hedge funds 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.