Uber Technologies (NYSE:UBER) Shares Down 1.2% – Here’s What Happened

Shares of Uber Technologies, Inc. (NYSE:UBER) fell 1.2% on Monday . The stock traded as low as $60.12 and last traded at $60.42. 4,295,995 shares were traded during mid-day trading, a decline of 78% from the average session volume of 19,168,201 shares. The stock had previously closed at $61.13.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on UBER shares. Bank of America upped their price target on Uber Technologies from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Daiwa Capital Markets cut shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 target price for the company. in a research note on Thursday, October 17th. Jefferies Financial Group boosted their price target on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their price objective on Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Uber Technologies in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Uber Technologies has an average rating of “Moderate Buy” and a consensus price target of $91.31.

Uber Technologies Price Performance

The company has a fifty day simple moving average of $68.93 and a two-hundred day simple moving average of $70.85. 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 company has a market capitalization of $127.02 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 0.75 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, research analysts anticipate that Uber Technologies, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 owns 107,289 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.84% of the company’s stock.

Hedge Funds Weigh In On Uber Technologies

A number of large investors have recently modified their holdings of UBER. Geode Capital Management LLC lifted its holdings in shares of Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after acquiring an additional 893,652 shares in the last quarter. Edgewood Management LLC lifted its stake in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares during the period. Janus Henderson Group PLC grew its stake in shares of Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after buying an additional 2,056,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after buying an additional 1,601,747 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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.