Uber Technologies (NYSE:UBER) Stock Price Down 1% – Here’s What Happened

Uber Technologies, Inc. (NYSE:UBER) fell 1% during mid-day trading on Friday . The company traded as low as $78.97 and last traded at $79.49. 4,242,607 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 29,949,850 shares. The stock had previously closed at $80.29.

Analyst Ratings Changes

UBER has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $96.00 target price on shares of Uber Technologies in a report on Thursday, January 2nd. UBS Group decreased their target price on shares of Uber Technologies from $114.00 to $107.00 and set a “buy” rating for the company in a report on Monday, February 3rd. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a report on Thursday, February 6th. KeyCorp reduced their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Piper Sandler lowered their price objective on shares of Uber Technologies from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.70.

Uber Technologies Stock Performance

The company has a market capitalization of $167.00 billion, a P/E ratio of 17.39, a PEG ratio of 0.81 and a beta of 1.39. The stock has a fifty day simple moving average of $66.27 and a 200-day simple moving average of $70.64. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Equities analysts forecast that Uber Technologies, Inc. will post 2.4 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the completion of the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UBER. Capital Research Global Investors raised its stake in 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 buying an additional 52,125,476 shares during the period. Norges Bank acquired a new position in Uber Technologies in the fourth quarter valued at about $1,467,754,000. Jennison Associates LLC increased its holdings in shares of Uber Technologies by 36.9% in 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 acquiring an additional 7,137,512 shares in the last quarter. Boston Partners bought a new position in shares of Uber Technologies during the 4th quarter valued at about $381,057,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Uber Technologies by 670.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $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.