Uber Technologies (NYSE:UBER) Stock Price Down 0.1% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER)’s stock price dropped 0.1% on Thursday . The company traded as low as $61.16 and last traded at $61.62. Approximately 1,968,734 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 19,207,961 shares. The stock had previously closed at $61.71.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UBER shares. DA Davidson raised 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. Oppenheimer lifted their price objective on shares of Uber Technologies from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. UBS Group boosted their price objective on Uber Technologies from $102.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Six 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $128.72 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The firm has a 50 day moving average price of $69.73 and a 200-day moving average price of $71.00.

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

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of Uber Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the completion of the transaction, the insider now owns 107,289 shares of the company’s stock, valued at $7,821,368.10. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Uber Technologies

Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Uber Technologies by 36.5% in the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after buying an additional 3,179,308 shares during the last quarter. 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. AMF Tjanstepension AB acquired a new position in Uber Technologies in the third quarter valued at about $163,468,000. Janus Henderson Group PLC lifted its holdings in shares of Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares during the period. Finally, Samlyn Capital LLC acquired a new stake in shares of Uber Technologies in the 2nd quarter valued at $134,987,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.

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.