Uber Technologies (NYSE:UBER) Shares Down 4.8% – Time to Sell?

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $90.08 and last traded at $94.8880. Approximately 48,562,947 shares were traded during trading, an increase of 134% from the average daily volume of 20,742,260 shares. The stock had previously closed at $99.72.

Wall Street Analysts Forecast Growth

UBER has been the topic of several recent analyst reports. Guggenheim upgraded shares of Uber Technologies to a “strong-buy” rating in a report on Wednesday, October 15th. Susquehanna increased their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of Uber Technologies in a report on Tuesday. Finally, Benchmark reiterated a “hold” rating on shares of Uber Technologies in a report on Tuesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.56.

Uber Technologies Price Performance

The company’s fifty day moving average is $95.66 and its 200 day moving average is $90.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $197.88 billion, a PE ratio of 16.16 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter last year, the firm posted $1.20 earnings per share. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares of the company’s stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the sale, the chief executive officer directly owned 1,132,544 shares of the company’s stock, valued at $108,010,721.28. This trade represents a 20.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 604,946 shares of company stock valued at $58,950,116 in the last three months. 3.84% of the stock is owned by company insiders.

Institutional Trading of Uber Technologies

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Uber Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock worth $17,685,157,000 after buying an additional 3,025,483 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Uber Technologies by 2.6% in the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after buying an additional 1,168,288 shares during the last quarter. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies in the first quarter worth $2,207,743,000. Norges Bank bought a new stake in shares of Uber Technologies in the second quarter worth $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC increased its stake in shares of Uber Technologies by 334,075.7% in the second 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. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

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.