Uber Technologies (NYSE:UBER) Stock Price Down 1% Following Insider Selling

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $75.56 and last traded at $75.76. Approximately 3,753,485 shares traded hands during trading, a decline of 81% from the average daily volume of 19,651,368 shares. The stock had previously closed at $76.51.

Specifically, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $206,250.00. Following the transaction, the chief financial officer now owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. The trade was a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several brokerages have issued reports on UBER. UBS Group reissued a “buy” rating on shares of Uber Technologies in a research note on Friday, February 21st. Arete Research raised Uber Technologies to a “hold” rating in a report on Tuesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Citigroup cut their price objective on Uber Technologies from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Fox Advisors lowered shares of Uber Technologies from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.31.

Uber Technologies Stock Performance

The stock has a market cap of $158.43 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock’s 50-day moving average is $72.85 and its 200-day moving average is $71.63.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share 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%. Analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Trading of Uber Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. acquired a new stake in shares of Uber Technologies during the 4th quarter worth $44,000. Chancellor Financial Group WB LP purchased a new stake in Uber Technologies during the 4th quarter worth approximately $223,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Uber Technologies in the fourth quarter valued at $37,476,000. Centaurus Financial Inc. raised its stake in shares of Uber Technologies by 438.7% in the 4th quarter. Centaurus Financial Inc. now owns 94,127 shares of the ride-sharing company’s stock valued at $5,678,000 after purchasing an additional 76,653 shares in the last quarter. Finally, Castle Rock Wealth Management LLC acquired a new stake in Uber Technologies during the fourth quarter valued at approximately $1,115,000. Hedge funds and other institutional investors 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.