Uber Technologies (NYSE:UBER) Stock Price Down 0.7% Following Insider Selling

Shares of Uber Technologies, Inc. (NYSE:UBER) dropped 0.7% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $80.10 and last traded at $80.58. Approximately 3,929,929 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 28,719,613 shares. The stock had previously closed at $81.16.

Specifically, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Analysts Set New Price Targets

A number of analysts have commented on UBER shares. DA Davidson cut their price objective on shares of Uber Technologies from $84.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, February 6th. UBS Group reduced their price objective on Uber Technologies from $114.00 to $107.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. KeyCorp lowered their price objective on Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Citizens Jmp cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.91.

Uber Technologies Trading Down 1.0 %

The firm’s 50 day simple moving average is $67.27 and its 200-day simple moving average is $71.04. The company has a market capitalization of $167.93 billion, a PE ratio of 17.66, a P/E/G 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.

Uber Technologies (NYSE:UBER) last announced its quarterly 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 net margin of 22.41% and a return on equity of 62.60%. As a group, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avion Wealth boosted its stake in shares of Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock valued at $26,000 after purchasing an additional 218 shares during the period. Transce3nd LLC acquired a new stake in Uber Technologies during the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Uber Technologies during the fourth quarter worth approximately $28,000. Finally, GHP Investment Advisors Inc. raised its holdings in Uber Technologies by 85.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 223 shares in 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.