Uber Technologies (NYSE:UBER) Stock Price Down 1.2% – Time to Sell?

by · The Markets Daily

Uber Technologies, Inc. (NYSE:UBER – Get Free Report)’s stock price was down 1.2% during mid-day trading on Tuesday . The stock traded as low as $80.26 and last traded at $80.8850. Approximately 24,302,551 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 20,694,457 shares. The stock had previously closed at $81.86.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UBER. Stifel Nicolaus set a $122.00 price target on Uber Technologies in a research note on Tuesday, November 4th. Wall Street Zen raised shares of Uber Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler set a $107.00 target price on shares of Uber Technologies in a report on Wednesday, November 5th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Uber Technologies in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on shares of Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

View Our Latest Report on Uber Technologies

Uber Technologies Trading Up 0.8%

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $165.83 billion, a P/E ratio of 10.26 and a beta of 1.19. The stock has a fifty day simple moving average of $90.34 and a 200 day simple moving average of $91.59.

Uber Technologies (NYSE:UBER – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total value of $519,255.00. Following the sale, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tony West sold 100,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares in the company, valued at $17,220,992.04. This represents a 36.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 264,875 shares of company stock worth $26,458,818 over the last 90 days. Corporate insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UBER. AIA Group Ltd raised its position in Uber Technologies by 96.8% in the 3rd quarter. AIA Group Ltd now owns 79,201 shares of the ride-sharing company’s stock worth $7,759,000 after purchasing an additional 38,950 shares during the period. Lynwood Price Capital Management LP boosted its holdings in Uber Technologies by 38.5% during the 3rd quarter. Lynwood Price Capital Management LP now owns 162,000 shares of the ride-sharing company’s stock valued at $15,871,000 after acquiring an additional 45,000 shares during the period. Allworth Financial LP increased its stake in Uber Technologies by 18.1% in the third quarter. Allworth Financial LP now owns 32,992 shares of the ride-sharing company’s stock worth $3,232,000 after purchasing an additional 5,060 shares during the period. IFP Advisors Inc increased its stake in Uber Technologies by 5.1% in the third quarter. IFP Advisors Inc now owns 54,234 shares of the ride-sharing company’s stock worth $5,313,000 after purchasing an additional 2,631 shares during the period. Finally, Swiss Life Asset Management Ltd grew its stake in Uber Technologies by 6.9% in the third quarter. Swiss Life Asset Management Ltd now owns 692,138 shares of the ride-sharing company’s stock worth $67,809,000 after purchasing an additional 44,598 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

About Uber Technologies

(Get Free Report)

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.

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