Uber Technologies (NYSE:UBER) Shares Down 0.3% – Here’s Why

Uber Technologies, Inc. (NYSE:UBER) shares dropped 0.3% during mid-day trading on Wednesday . The stock traded as low as $70.55 and last traded at $71.16. Approximately 3,620,003 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 18,104,684 shares. The stock had previously closed at $71.37.

Analysts Set New Price Targets

Several analysts have recently weighed in on UBER shares. Roth Mkm lifted their price objective on shares of Uber Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. DA Davidson lifted their price objective on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Truist Financial decreased their price target on Uber Technologies from $99.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Raymond James started coverage on Uber Technologies in a research report on Tuesday, September 24th. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.32.

Uber Technologies Trading Up 0.4 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The firm has a market cap of $150.43 billion, a PE ratio of 35.54, a PEG ratio of 0.71 and a beta of 1.34. The firm has a fifty day simple moving average of $75.40 and a two-hundred day simple moving average of $71.00.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. Equities analysts forecast that Uber Technologies, Inc. will post 1.83 EPS for the current year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of Uber Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the sale, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. This trade represents a 23.90 % decrease in their position. The transaction was disclosed in a document filed 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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its position in shares of Uber Technologies by 24.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 25,169 shares of the ride-sharing company’s stock valued at $1,938,000 after buying an additional 4,898 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in Uber Technologies by 5.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 12,784 shares of the ride-sharing company’s stock worth $984,000 after buying an additional 680 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Uber Technologies by 19.0% during the first quarter. Orion Portfolio Solutions LLC now owns 25,216 shares of the ride-sharing company’s stock valued at $1,941,000 after acquiring an additional 4,024 shares during the period. Banco Santander S.A. lifted its position in shares of Uber Technologies by 17.6% in the first quarter. Banco Santander S.A. now owns 54,801 shares of the ride-sharing company’s stock valued at $4,219,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in shares of Uber Technologies during the first quarter worth about $522,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.