Uber Technologies (NYSE:UBER) Stock Price Down 1.6% - Here's What Happened

Uber Technologies, Inc. (NYSE:UBER - Get Free Report)'s share price was down 1.6% during trading on Tuesday . The stock traded as low as $70.83 and last traded at $71.69. Approximately 5,105,572 shares changed hands during trading, a decline of 78% from the average daily volume of 23,686,635 shares. The stock had previously closed at $72.86.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Uber Technologies from $98.00 to $92.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. KGI Securities reissued a "neutral" rating and issued a $78.00 price target on shares of Uber Technologies in a report on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $96.00 price objective on shares of Uber Technologies in a research note on Thursday, January 2nd. DA Davidson cut their target price on shares of Uber Technologies from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, Arete Research upgraded shares of Uber Technologies to a "hold" rating in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.31.

Uber Technologies Trading Up 1.7 %

The company has a market cap of $155.25 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company's 50 day moving average price is $73.66 and its 200 day moving average price is $71.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07.

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Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $206,250.00. Following the completion of the sale, the chief financial officer now directly owns 22,162 shares of the company's stock, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the completion of the transaction, the senior vice president now owns 361,908 shares in the company, valued at $25,901,755.56. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,154 shares of company stock valued at $5,793,869. Insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Uber Technologies

Several large investors have recently made changes to their positions in UBER. Capital Research Global Investors lifted its holdings in shares of Uber Technologies by 79.0% during the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after buying an additional 52,125,476 shares during the last quarter. Norges Bank acquired a new position in Uber Technologies during the 4th quarter valued at $1,467,754,000. Jennison Associates LLC boosted its holdings in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company's stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares during the period. Boston Partners acquired a new stake in Uber Technologies in the 4th quarter worth $381,057,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Uber Technologies by 670.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company's stock worth $398,809,000 after purchasing an additional 5,753,637 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

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.