Uber Technologies (NYSE:UBER) Trading Down 0.7% – Time to Sell?

Uber Technologies, Inc. (NYSE:UBER)’s stock price was down 0.7% during mid-day trading on Wednesday . The company traded as low as $60.17 and last traded at $60.32. Approximately 14,454,703 shares changed hands during trading, a decline of 25% from the average daily volume of 19,204,439 shares. The stock had previously closed at $60.77.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UBER. Oppenheimer upped their price objective on Uber Technologies from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. DA Davidson upped their price target on shares of Uber Technologies from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Gordon Haskett upgraded shares of Uber Technologies from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Daiwa America cut Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Uber Technologies presently has an average rating of “Moderate Buy” and an average price target of $91.47.

Uber Technologies Price Performance

The stock has a 50-day moving average of $68.24 and a two-hundred day moving average of $70.73. The firm has a market cap of $133.02 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70.

Uber Technologies (NYSE:UBER) last announced its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts anticipate that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the sale, the insider now owns 107,289 shares in the company, valued at $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in 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 boosted its holdings 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 during the period. Legal & General Group Plc grew its position in Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares in the last quarter. Janus Henderson Group PLC increased its stake in Uber Technologies by 18.3% in the 3rd 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Uber Technologies by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after buying an additional 1,601,747 shares in the last quarter. Hedge funds and other 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.