Uber Technologies (NYSE:UBER) Trading Down 5% – Here’s What Happened

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. KeyCorp cut their price objective on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, November 1st. Daiwa America cut shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 17th. Citigroup lifted their price objective on shares of Uber Technologies from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Tigress Financial lifted their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.51.

Uber Technologies Trading Down 6.5 %

The company has a fifty day moving average of $75.08 and a two-hundred day moving average of $71.41. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $142.09 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last posted its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts expect that Uber Technologies, Inc. will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.00, for a total transaction of $2,880,000.00. Following the sale, the insider now directly owns 127,352 shares in the company, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently modified their holdings of UBER. Ameriprise Financial Inc. increased its position in shares of Uber Technologies by 36.5% during the second quarter. Ameriprise Financial Inc. now owns 11,893,429 shares of the ride-sharing company’s stock valued at $864,390,000 after purchasing an additional 3,179,308 shares during the period. Edgewood Management LLC increased its position in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. AMF Tjanstepension AB bought a new stake in Uber Technologies in the third quarter valued at $163,468,000. Janus Henderson Group PLC grew its position in Uber Technologies by 18.3% in 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 acquiring an additional 2,056,273 shares during the period. Finally, Samlyn Capital LLC bought a new stake in Uber Technologies in the second quarter valued at $134,987,000. 80.24% of the stock is currently owned by institutional investors.

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.