Uber Technologies (NYSE:UBER) Stock Price Down 1% Following Insider Selling

Shares of Uber Technologies, Inc. (NYSE:UBER) traded down 1% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $75.56 and last traded at $75.76. 3,753,485 shares traded hands during trading, a decline of 81% from the average session volume of 19,651,368 shares. The stock had previously closed at $76.51.

Specifically, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the completion of the sale, the chief financial officer now owns 22,162 shares in the company, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on UBER shares. Wells Fargo & Company lowered their price target on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Wolfe Research increased their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. UBS Group restated a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Finally, KGI Securities reissued a “neutral” rating and issued 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Stock Down 1.2 %

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 company has a market capitalization of $157.91 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.89 and a beta of 1.39. The firm’s fifty day moving average price is $73.06 and its 200-day moving average price is $71.67.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Uber Technologies

Several institutional investors have recently made changes to their positions in UBER. Capital Research Global Investors raised 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 valued at $7,125,728,000 after buying an additional 52,125,476 shares during the last quarter. Norges Bank bought a new position in shares of Uber Technologies during the 4th quarter worth $1,467,754,000. Jennison Associates LLC raised its stake in Uber Technologies by 36.9% in 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 acquiring an additional 7,137,512 shares during the period. Boston Partners purchased a new stake in Uber Technologies during the fourth quarter valued at about $381,057,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Uber Technologies by 670.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds 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.