Uber Technologies (NYSE:UBER) Shares Down 1.1% - Time to Sell?

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price dropped 1.1% during trading on Wednesday . The stock traded as low as $81.97 and last traded at $82.30. Approximately 2,565,693 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 17,969,033 shares. The stock had previously closed at $83.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets restated an "outperform" rating and issued a $92.00 target price on shares of Uber Technologies in a report on Friday, October 11th. Evercore ISI lifted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Wolfe Research began coverage on shares of Uber Technologies in a research note on Tuesday, July 16th. They issued an "outperform" rating and a $90.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of Uber Technologies in a report on Monday, October 7th. Finally, DA Davidson increased their price objective on shares of Uber Technologies from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.11.

Uber Technologies Stock Performance

The stock has a market capitalization of $172.08 billion, a P/E ratio of 90.01, a PEG ratio of 1.47 and a beta of 1.33. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $73.54 and a two-hundred day moving average price of $70.55.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.16. Uber Technologies had a net margin of 5.02% and a return on equity of 17.06%. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter in the prior year, the firm posted $0.18 EPS. Uber Technologies's revenue was up 15.9% on a year-over-year basis. Equities analysts expect that Uber Technologies, Inc. will post 1.08 earnings per share for the current year.

Insider Buying and Selling

In other Uber Technologies news, insider Jill Hazelbaker sold 40,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 127,352 shares of the company's stock, valued at $9,169,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Uber Technologies by 2.2% in the first quarter. Vanguard Group Inc. now owns 171,253,318 shares of the ride-sharing company's stock valued at $13,184,793,000 after acquiring an additional 3,623,951 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Uber Technologies by 8.2% in the 1st quarter. Capital Research Global Investors now owns 39,947,547 shares of the ride-sharing company's stock worth $3,075,562,000 after purchasing an additional 3,019,431 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Uber Technologies by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,425,981 shares of the ride-sharing company's stock valued at $2,804,437,000 after purchasing an additional 9,996,508 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Uber Technologies by 74.1% during the 1st quarter. GQG Partners LLC now owns 22,423,451 shares of the ride-sharing company's stock valued at $1,726,381,000 after buying an additional 9,541,366 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Uber Technologies by 1.6% in the 2nd 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 last quarter. 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.