Uber Technologies (NYSE:UBER) Stock Price Down 5.4% - Here's Why

Shares of Uber Technologies, Inc. (NYSE:UBER - Get Free Report) were down 5.4% on Thursday . The stock traded as low as $70.25 and last traded at $70.51. Approximately 7,951,469 shares were traded during trading, a decline of 60% from the average daily volume of 20,050,079 shares. The stock had previously closed at $74.50.

Analyst Ratings Changes

A number of research firms have recently issued reports on UBER. Arete Research raised shares of Uber Technologies to a "hold" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group restated a "buy" rating and set a $96.00 price target on shares of Uber Technologies in a research report on Thursday, January 2nd. KGI Securities reiterated a "neutral" rating and issued a $78.00 price objective on shares of Uber Technologies in a report on Tuesday, March 11th. Piper Sandler reissued an "overweight" rating and set a $87.00 target price (up previously from $80.00) on shares of Uber Technologies in a research note on Tuesday, February 18th. Finally, Citizens Jmp downgraded Uber Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.41.

Uber Technologies Stock Down 7.7 %

The stock has a market cap of $134.92 billion, a PE ratio of 14.14, a P/E/G ratio of 0.89 and a beta of 1.37. The business has a 50 day moving average of $73.75 and a 200-day moving average of $71.76. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 20,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.57, for a total value of $1,431,400.00. Following the transaction, the senior vice president now owns 361,908 shares of the company's stock, valued at approximately $25,901,755.56. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jill Hazelbaker sold 31,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now owns 86,973 shares of the company's stock, valued at approximately $7,046,552.46. The trade was a 26.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,154 shares of company stock worth $5,793,869. 3.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Uber Technologies by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 180,766,683 shares of the ride-sharing company's stock worth $10,903,846,000 after acquiring an additional 2,364,525 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Uber Technologies by 79.0% during the 4th quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company's stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares during the period. Geode Capital Management LLC increased its holdings in shares of Uber Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 43,561,447 shares of the ride-sharing company's stock valued at $2,621,929,000 after purchasing an additional 1,061,088 shares in the last quarter. Capital World Investors lifted its stake in shares of Uber Technologies by 10.1% in the fourth quarter. Capital World Investors now owns 30,355,075 shares of the ride-sharing company's stock valued at $1,831,021,000 after purchasing an additional 2,792,039 shares during the period. Finally, Jennison Associates LLC boosted its holdings 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 buying an additional 7,137,512 shares in the last quarter. Hedge funds and other 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.