Uber Technologies (NYSE:UBER) Stock Price Down 0.4% – Should You Sell?

Uber Technologies, Inc. (NYSE:UBER)’s stock price dropped 0.4% on Tuesday . The company traded as low as $59.33 and last traded at $59.98. Approximately 9,152,574 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 19,050,021 shares. The stock had previously closed at $60.25.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets lowered Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price objective for the company. in a report on Thursday, October 17th. Benchmark restated a “hold” rating on shares of Uber Technologies in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Uber Technologies in a report on Thursday, October 31st. Finally, Loop Capital boosted 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. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.51.

Uber Technologies Price Performance

The company has a 50-day moving average of $72.62 and a 200-day moving average of $71.30. The stock has a market cap of $126.78 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 0.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Activity

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 value 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. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after purchasing an additional 893,652 shares during the period. Edgewood Management LLC lifted its holdings in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after buying an additional 2,627,768 shares during the period. Legal & General Group Plc increased its holdings in Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after buying an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

About Uber Technologies

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.