Uber Technologies (NYSE:UBER) Stock Price Down 1.2% – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 1.2% during mid-day trading on Tuesday . The company traded as low as $80.26 and last traded at $80.8850. Approximately 24,302,551 shares were traded during trading, an increase of 17% from the average daily volume of 20,694,457 shares. The stock had previously closed at $81.86.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UBER shares. UBS Group set a $122.00 price target on Uber Technologies and gave the stock a “buy” rating in a report on Wednesday, November 5th. Guggenheim decreased their target price on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Arete Research set a $125.00 target price on Uber Technologies and gave the company a “buy” rating in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a research note on Monday. Finally, BMO Capital Markets decreased their price objective on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Uber Technologies Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $168.07 billion, a PE ratio of 10.40 and a beta of 1.19. The company has a 50-day moving average price of $91.41 and a 200-day moving average price of $91.79.

Uber Technologies (NYSE:UBER) last announced its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $0.67 by $2.44. The firm had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Uber Technologies news, insider Tony West sold 100,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider directly owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 264,875 shares of company stock valued at $26,501,255 over the last 90 days. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lynwood Price Capital Management LP lifted its position in Uber Technologies by 38.5% during the third quarter. Lynwood Price Capital Management LP now owns 162,000 shares of the ride-sharing company’s stock worth $15,871,000 after buying an additional 45,000 shares during the period. Allworth Financial LP increased its stake in shares of Uber Technologies by 18.1% during the 3rd quarter. Allworth Financial LP now owns 32,992 shares of the ride-sharing company’s stock valued at $3,232,000 after acquiring an additional 5,060 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Uber Technologies by 5.1% during the 3rd quarter. IFP Advisors Inc now owns 54,234 shares of the ride-sharing company’s stock worth $5,313,000 after acquiring an additional 2,631 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Uber Technologies by 6.9% in the third quarter. Swiss Life Asset Management Ltd now owns 692,138 shares of the ride-sharing company’s stock worth $67,809,000 after acquiring an additional 44,598 shares during the last quarter. Finally, Cantor Fitzgerald L. P. boosted its position in shares of Uber Technologies by 10.5% in the third quarter. Cantor Fitzgerald L. P. now owns 58,946 shares of the ride-sharing company’s stock worth $5,775,000 after acquiring an additional 5,582 shares during the last quarter. 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.