Uber Technologies (NYSE:UBER) Stock Price Down 5% - Here's Why

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) traded down 5% on Thursday . The stock traded as low as $68.54 and last traded at $68.56. 10,672,579 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 18,133,355 shares. The stock had previously closed at $72.16.

Analyst Ratings Changes

UBER has been the topic of a number of recent research reports. JMP Securities reissued a "market outperform" rating and issued a $95.00 target price on shares of Uber Technologies in a report on Wednesday. Loop Capital upped their price objective on shares of Uber Technologies from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Truist Financial reduced their target price on shares of Uber Technologies from $99.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group boosted their price target on shares of Uber Technologies from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Finally, Evercore ISI raised their price objective on shares of Uber Technologies from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued 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 $90.51.

Uber Technologies Stock Performance

The stock has a 50-day moving average price of $74.86 and a 200 day moving average price of $71.37. 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 company has a market cap of $137.39 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33.

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

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 40,000 shares of the 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 completion of the sale, the insider now owns 127,352 shares of the company's stock, valued at approximately $9,169,344. This represents a 23.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.84% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

Several hedge funds have recently modified their holdings of the stock. Inspire Trust Co. N.A. grew its stake in Uber Technologies by 30.5% in the third quarter. Inspire Trust Co. N.A. now owns 32,105 shares of the ride-sharing company's stock valued at $2,413,000 after acquiring an additional 7,500 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Uber Technologies in the 3rd quarter worth $8,243,000. Peapack Gladstone Financial Corp lifted its holdings in shares of Uber Technologies by 30.9% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 6,562 shares of the ride-sharing company's stock worth $494,000 after purchasing an additional 1,550 shares in the last quarter. Synovus Financial Corp grew its position in Uber Technologies by 26.1% in the 3rd quarter. Synovus Financial Corp now owns 17,499 shares of the ride-sharing company's stock valued at $1,315,000 after purchasing an additional 3,622 shares during the period. Finally, Tidal Investments LLC increased its stake in Uber Technologies by 64.6% during the 3rd quarter. Tidal Investments LLC now owns 328,110 shares of the ride-sharing company's stock valued at $24,661,000 after purchasing an additional 128,739 shares in 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.