Uber Technologies (NYSE:UBER) Stock Price Down 1% on Analyst Downgrade

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) were down 1% during trading on Wednesday after Piper Sandler lowered their price target on the stock from $98.00 to $82.00. Piper Sandler currently has an overweight rating on the stock. Uber Technologies traded as low as $67.23 and last traded at $67.39. Approximately 4,649,955 shares were traded during trading, a decline of 80% from the average daily volume of 23,645,313 shares. The stock had previously closed at $68.07.

Several other brokerages also recently weighed in on UBER. DA Davidson raised their target price on Uber Technologies from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. KeyCorp dropped their price objective on Uber Technologies from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Uber Technologies from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $96.00 price target on shares of Uber Technologies in a report on Thursday, January 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Uber Technologies in a report on Monday. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.08.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 27,780 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.84% of the company's stock.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UBER. Geode Capital Management LLC increased its position in Uber Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company's stock worth $3,184,013,000 after buying an additional 893,652 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Uber Technologies by 10.5% in the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company's stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares in the last quarter. Jennison Associates LLC boosted its position in Uber Technologies by 36.9% during the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock worth $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Janus Henderson Group PLC grew its holdings in Uber Technologies by 18.3% during 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 purchasing an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Uber Technologies by 14.7% in the third 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 purchasing an additional 1,601,747 shares during the period. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average price is $65.83 and its 200 day moving average price is $70.19. The company has a market cap of $140.50 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

Uber Technologies (NYSE:UBER - Get Free Report) last released its 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 firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business's revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, research analysts expect that Uber Technologies, Inc. will post 1.86 EPS for the current fiscal year.

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.