Uber Technologies (NYSE:UBER) Cut to “Hold” at Erste Group Bank

Uber Technologies (NYSE:UBER) was downgraded by research analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Friday,Finviz reports.

UBER has been the topic of a number of other reports. Cowen reiterated a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Wall Street Zen raised Uber Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Susquehanna restated a “positive” rating and set a $110.00 price objective on shares of Uber Technologies in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 target price on shares of Uber Technologies in a research report on Wednesday, November 5th. Finally, Arete upgraded shares of Uber Technologies from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.19.

Uber Technologies Trading Up 1.2%

UBER stock traded up $1.08 during midday trading on Friday, reaching $92.07. 1,435,195 shares of the company’s stock traded hands, compared to its average volume of 20,515,070. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $191.31 billion, a P/E ratio of 11.82 and a beta of 1.19. The business has a 50-day moving average price of $92.94 and a two-hundred day moving average price of $91.82. Uber Technologies has a fifty-two week low of $59.33 and a fifty-two week high of $101.99.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts forecast that Uber Technologies will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $92.10, for a total value of $287,812.50. Following the transaction, the insider owned 174,135 shares in the company, valued at $16,037,833.50. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 567,625 shares of company stock valued at $55,385,660. Insiders own 3.84% of the company’s stock.

Institutional Trading of Uber Technologies

Several large investors have recently added to or reduced their stakes in UBER. Pershing Square Capital Management L.P. bought a new position in shares of Uber Technologies in the first quarter worth about $2,207,743,000. Norges Bank acquired a new stake in shares of Uber Technologies in the second quarter worth $2,348,319,000. Kingstone Capital Partners Texas LLC increased its position in Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares during the period. Pacer Advisors Inc. increased its position in Uber Technologies by 1,905.3% during the third quarter. Pacer Advisors Inc. now owns 4,350,479 shares of the ride-sharing company’s stock worth $426,216,000 after acquiring an additional 4,133,532 shares during the period. Finally, Vanguard Group Inc. raised its stake in Uber Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after purchasing an additional 3,025,483 shares during the last quarter. 80.24% of the stock is 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.