Uber Technologies (NYSE:UBER) Stock Price Down 0.7%

Shares of Uber Technologies, Inc. (NYSE:UBER) fell 0.7% on Friday . The company traded as low as $74.28 and last traded at $74.74. 2,859,227 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 18,186,020 shares. The stock had previously closed at $75.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UBER. Citigroup increased their price objective on Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, June 5th. Piper Sandler increased their price objective on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, June 25th. JMP Securities increased their price objective on Uber Technologies from $75.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

Uber Technologies Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $155.13 billion, a price-to-earnings ratio of 119.82, a PEG ratio of 1.27 and a beta of 1.33. The firm has a fifty day moving average of $69.57 and a 200 day moving average of $70.82.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 1.06 EPS for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at $9,169,344. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the sale, the chief executive officer now owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares in the company, valued at approximately $9,169,344. The disclosure for this sale can be found here. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently modified their holdings of UBER. Precision Wealth Strategies LLC purchased a new stake in shares of Uber Technologies in the 4th quarter valued at $444,000. 9258 Wealth Management LLC grew its stake in Uber Technologies by 52.6% during the 4th quarter. 9258 Wealth Management LLC now owns 12,138 shares of the ride-sharing company’s stock worth $747,000 after purchasing an additional 4,185 shares in the last quarter. Rollins Financial acquired a new position in Uber Technologies during the 4th quarter worth $265,000. Dynamic Technology Lab Private Ltd acquired a new position in Uber Technologies during the 4th quarter worth $772,000. Finally, PNC Financial Services Group Inc. grew its stake in Uber Technologies by 130.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 145,061 shares of the ride-sharing company’s stock worth $8,931,000 after purchasing an additional 82,002 shares in the last quarter. 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.