Uber Technologies (NYSE:UBER) Trading Down 3.6% – Here’s Why

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 3.6% during trading on Monday . The company traded as low as $74.85 and last traded at $76.02. Approximately 9,612,859 shares were traded during trading, a decline of 66% from the average daily volume of 28,255,574 shares. The stock had previously closed at $78.89.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Uber Technologies in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Uber Technologies from $90.00 to $87.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Finally, JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.94.

Uber Technologies Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $158.46 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.89 and a beta of 1.39. The stock’s 50 day moving average price is $68.65 and its two-hundred day moving average price is $71.44.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jill Hazelbaker sold 31,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company’s stock, valued at $7,046,552.46. This represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors have recently made changes to their positions in the stock. Avion Wealth boosted its holdings in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new position in Uber Technologies during the fourth quarter valued at approximately $28,000. Finally, GHP Investment Advisors Inc. increased its stake in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after purchasing an additional 223 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

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.