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

Uber Technologies, Inc. (NYSE:UBER)’s share price dropped 1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $75.56 and last traded at $75.76. Approximately 3,753,485 shares were traded 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 stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares of the company’s stock, valued at approximately $1,662,150. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

UBER has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 target price on shares of Uber Technologies in a report on Thursday, February 6th. Evercore ISI decreased their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Arete Research upgraded Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Finally, Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Stock Down 1.9 %

The company’s fifty day simple moving average is $73.21 and its 200 day simple moving average is $71.69. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $154.95 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, beating 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 earnings per share for the current fiscal year.

Institutional Trading of Uber Technologies

A number of hedge funds have recently modified their holdings of UBER. Avion Wealth boosted its stake in Uber Technologies by 96.0% during the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Uber Technologies during the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Uber Technologies in the 4th quarter worth approximately $28,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of Uber Technologies by 85.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 485 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 223 shares during the last quarter. 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.