Uber Technologies (NYSE:UBER) Trading Down 2% on Insider Selling

Uber Technologies, Inc. (NYSE:UBER)’s share price fell 2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $91.35 and last traded at $91.7270. 16,341,284 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 20,607,486 shares. The stock had previously closed at $93.57.

Specifically, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the transaction, the chief financial officer 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UBER shares. DA Davidson raised their price target on shares of Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Guggenheim dropped their target price on shares of Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. BMO Capital Markets reduced their target price on shares of Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a research note on Tuesday, October 28th. Finally, BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Uber Technologies in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Price Performance

The firm has a 50-day simple moving average of $95.50 and a 200-day simple moving average of $91.74. The firm has a market cap of $190.24 billion, a P/E ratio of 11.77 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

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

Hedge Funds Weigh In On Uber Technologies

Several institutional investors and hedge funds have recently bought and sold shares of UBER. Kilter Group LLC purchased a new position in Uber Technologies during the second quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies during the 1st quarter valued at approximately $27,000. Westend Capital Management LLC acquired a new position in shares of Uber Technologies in the 3rd quarter valued at $27,000. West Oak Capital LLC purchased a new stake in Uber Technologies during the second quarter worth $28,000. Finally, Truvestments Capital LLC grew its position in Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after buying an additional 339 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

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.