Uber Technologies (NYSE:UBER) Trading Down 0.1% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares were down 0.1% on Monday . The stock traded as low as $65.02 and last traded at $65.93. Approximately 7,703,520 shares were traded during trading, a decline of 71% from the average daily volume of 26,396,512 shares. The stock had previously closed at $65.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UBER shares. KeyCorp decreased their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Citizens Jmp cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Truist Financial decreased their price objective on shares of Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Bank of America increased their price objective on shares of Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their target price on shares of Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.53.

Uber Technologies Price Performance

The business’s fifty day moving average is $66.58 and its 200-day moving average is $70.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $139.69 billion, a PE ratio of 33.00, a P/E/G ratio of 0.75 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, research analysts predict that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of Uber Technologies in the fourth quarter valued at approximately $33,000. Financial Management Professionals Inc. boosted its position in shares of Uber Technologies by 104.1% in the third quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after acquiring an additional 252 shares during the period. Transcendent Capital Group LLC boosted its position in shares of Uber Technologies by 3,928.6% in the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock valued at $42,000 after acquiring an additional 550 shares during the period. Fortitude Family Office LLC boosted its position in shares of Uber Technologies by 84.7% in the third quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock valued at $45,000 after acquiring an additional 276 shares during the period. Finally, ORG Partners LLC boosted its position in shares of Uber Technologies by 142.9% in the third quarter. ORG Partners LLC now owns 651 shares of the ride-sharing company’s stock valued at $49,000 after acquiring an additional 383 shares during the period. 80.24% of the stock is currently owned by institutional investors.

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.