Uber Technologies (NYSE:UBER) Stock Price Down 7.1% – Time to Sell?

Shares of Uber Technologies, Inc. (NYSE:UBER) were down 7.1% on Wednesday . The company traded as low as $63.65 and last traded at $64.80. Approximately 36,801,964 shares were traded during trading, an increase of 42% from the average daily volume of 25,980,400 shares. The stock had previously closed at $69.75.

Analyst Ratings Changes

UBER has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Uber Technologies in a research note on Thursday. UBS Group decreased their price target on shares of Uber Technologies from $114.00 to $107.00 and set a “buy” rating for the company in a research note on Monday. Evercore ISI lowered their price target on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday. 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. Finally, Gordon Haskett raised Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Thursday, October 31st. Seven equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.19.

Uber Technologies Price Performance

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 stock has a market capitalization of $157.43 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 0.77 and a beta of 1.39. The company has a 50-day moving average of $65.28 and a 200-day moving average of $70.07.

Uber Technologies (NYSE:UBER) last announced its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. As a group, equities research analysts expect that Uber Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction 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. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its position in shares of Uber Technologies by 36.9% during the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock worth $398,809,000 after acquiring an additional 5,753,637 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new position in Uber Technologies during the fourth quarter worth $166,072,000. Edgewood Management LLC raised its stake in Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new stake in Uber Technologies in the 3rd quarter valued at $163,468,000. Institutional investors own 80.24% of the company’s stock.

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.