Uber Technologies (NYSE:UBER) Shares Down 1.1%

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $74.08 and last traded at $74.36. Approximately 2,818,409 shares traded hands during trading, a decline of 84% from the average daily volume of 17,987,230 shares. The stock had previously closed at $75.16.

Analyst Upgrades and Downgrades

UBER has been the subject of a number of research reports. Wolfe Research initiated coverage on Uber Technologies in a report on Tuesday, July 16th. They set an “outperform” rating and a $90.00 target price for the company. Raymond James initiated coverage on Uber Technologies in a report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective for the company. Melius initiated coverage on Uber Technologies in a report on Monday, July 22nd. They issued a “hold” rating and a $77.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of Uber Technologies in a report on Wednesday, August 7th. Finally, Loop Capital raised their price objective on Uber Technologies from $83.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $87.81.

Uber Technologies Price 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 firm has a market capitalization of $157.23 billion, a P/E ratio of 120.32, a P/E/G ratio of 1.32 and a beta of 1.33. The firm’s 50 day simple moving average is $70.41 and its two-hundred day simple moving average is $70.57.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.57 billion. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, analysts predict that Uber Technologies, Inc. will post 1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 127,352 shares in the company, valued at $9,169,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Dara Khosrowshahi sold 500,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $71.91, for a total transaction of $35,955,000.00. Following the transaction, the chief executive officer now owns 1,266,114 shares in the company, valued at $91,046,257.74. The sale was disclosed in a filing 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 dated 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 sale, the insider now directly 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 currently owned by insiders.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently bought and sold shares of UBER. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 34.8% in the fourth quarter. Vanguard Group Inc. now owns 167,629,367 shares of the ride-sharing company’s stock worth $10,320,940,000 after buying an additional 43,275,830 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Uber Technologies by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company’s stock worth $2,804,437,000 after buying an additional 9,996,508 shares in the last quarter. GQG Partners LLC lifted its stake in shares of Uber Technologies by 74.1% in the first quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company’s stock worth $1,726,381,000 after buying an additional 9,541,366 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Uber Technologies by 28.4% in the fourth quarter. Capital Research Global Investors now owns 36,928,116 shares of the ride-sharing company’s stock worth $2,273,669,000 after buying an additional 8,164,816 shares in the last quarter. Finally, Allen Investment Management LLC lifted its stake in shares of Uber Technologies by 2,956.5% in the first quarter. Allen Investment Management LLC now owns 5,338,291 shares of the ride-sharing company’s stock worth $410,995,000 after buying an additional 5,163,635 shares in the last quarter. 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.