Uber Technologies (NYSE:UBER) Stock Price Down 1.9% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER)’s stock price fell 1.9% during trading on Wednesday . The company traded as low as $64.83 and last traded at $64.92. 9,553,491 shares changed hands during trading, a decline of 64% from the average session volume of 26,200,803 shares. The stock had previously closed at $66.15.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UBER. The Goldman Sachs Group reissued a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a report on Thursday, January 2nd. JMP Securities lowered shares of Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Thursday, January 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Uber Technologies in a research note on Friday, October 11th. Wolfe Research raised their target price on shares of Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada raised their target price on shares of Uber Technologies from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.53.

Uber Technologies Stock Up 1.6 %

The firm has a market cap of $138.89 billion, a P/E ratio of 32.82, a P/E/G ratio of 0.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41. The firm’s fifty day moving average is $67.06 and its 200 day moving average is $70.56.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, equities research analysts anticipate 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 that occurred on 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 sale, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. raised its stake in Uber Technologies by 222.7% in the second quarter. GHP Investment Advisors Inc. now owns 355 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. Fairfield Financial Advisors LTD bought a new stake in shares of Uber Technologies during the 2nd quarter worth approximately $36,000. Financial Management Professionals Inc. boosted its position in shares of Uber Technologies by 104.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock worth $37,000 after acquiring an additional 252 shares in the last quarter. Transcendent Capital Group LLC boosted its position in shares of Uber Technologies by 3,928.6% during the 3rd quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 550 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in 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 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.