Uber Technologies (NYSE:UBER) Stock Price Down 3% Following Insider Selling

Uber Technologies, Inc. (NYSE:UBER) fell 3% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $70.60 and last traded at $70.55. 4,025,110 shares were traded during trading, a decline of 79% from the average session volume of 19,508,068 shares. The stock had previously closed at $72.73.

Specifically, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. The trade was a 17.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several research firms have weighed in on UBER. Tigress Financial lifted their target price on Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 25th. JMP Securities reiterated a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. Evercore ISI reduced their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of Uber Technologies in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Uber Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Down 2.7 %

The stock has a market cap of $147.87 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $71.98 and a 200-day simple moving average of $71.56.

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, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Uber Technologies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company’s stock worth $10,903,846,000 after purchasing an additional 2,364,525 shares during the period. Capital Research Global Investors increased its stake in Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after acquiring an additional 52,125,476 shares during the period. Geode Capital Management LLC increased its stake in Uber Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company’s stock worth $2,621,929,000 after acquiring an additional 1,061,088 shares during the period. Capital World Investors increased its stake in Uber Technologies by 10.1% during the 4th quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company’s stock worth $1,831,021,000 after acquiring an additional 2,792,039 shares during the period. Finally, Edgewood Management LLC increased 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 worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Institutional investors 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.