Uber Technologies (NYSE:UBER) Trading Down 1.7% on Insider Selling

Uber Technologies, Inc. (NYSE:UBER) fell 1.7% during trading on Wednesday following insider selling activity. The stock traded as low as $88.89 and last traded at $89.2780. 18,009,182 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 20,535,734 shares. The stock had previously closed at $90.86.

Specifically, insider Tony West sold 3,125 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $92.10, for a total transaction of $287,812.50. Following the transaction, the insider directly owned 174,135 shares of the company’s stock, valued at approximately $16,037,833.50. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the transaction, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This represents a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UBER shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $108.00 price objective on shares of Uber Technologies in a research note on Wednesday, October 29th. Sanford C. Bernstein upped their price target on Uber Technologies from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 price objective on Uber Technologies in a research report on Wednesday, November 5th. Benchmark reissued a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Finally, Guggenheim cut their target price on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Uber Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.26.

Uber Technologies Trading Down 1.7%

The stock has a fifty day simple moving average of $95.37 and a 200 day simple moving average of $91.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $185.50 billion, a P/E ratio of 11.48 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. Uber Technologies’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pershing Square Capital Management L.P. purchased a new stake in Uber Technologies in the first quarter worth approximately $2,207,743,000. Norges Bank bought a new position in shares of Uber Technologies during the 2nd quarter valued at $2,348,319,000. Kingstone Capital Partners Texas LLC boosted its stake in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after acquiring an additional 6,254,898 shares during the period. Finally, Vanguard Group Inc. increased its position in Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after acquiring an additional 5,759,353 shares during the last quarter. 80.24% of the stock is owned by hedge funds and other 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.