Uber Technologies (NYSE:UBER) Shares Gap Down Following Insider Selling

Shares of Uber Technologies, Inc. (NYSE:UBERGet Rating) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $33.13, but opened at $31.60. Uber Technologies shares last traded at $31.18, with a volume of 400,893 shares trading hands.

Specifically, insider Tony West sold 4,167 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $32.00, for a total value of $133,344.00. Following the sale, the insider now owns 142,593 shares in the company, valued at approximately $4,562,976. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Uber Technologies in a report on Wednesday, June 29th. Atlantic Securities boosted their target price on shares of Uber Technologies to $40.00 in a report on Monday, August 22nd. Mizuho reduced their target price on shares of Uber Technologies from $58.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Jefferies Financial Group reduced their target price on shares of Uber Technologies from $65.00 to $50.00 in a report on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Uber Technologies from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, August 1st. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Uber Technologies Price Performance

The firm’s 50-day moving average price is $28.03 and its two-hundred day moving average price is $27.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The stock has a market cap of $63.22 billion, a PE ratio of -6.13 and a beta of 1.21.

Uber Technologies (NYSE:UBERGet Rating) last posted its earnings results on Tuesday, August 2nd. The ride-sharing company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.08). The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.37 billion. Uber Technologies had a negative net margin of 39.39% and a negative return on equity of 69.83%. The company’s revenue was up 105.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. On average, equities analysts expect that Uber Technologies, Inc. will post -4.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UBER. Altimeter Capital Management LP increased its stake in shares of Uber Technologies by 167.5% in the first quarter. Altimeter Capital Management LP now owns 30,760,000 shares of the ride-sharing company’s stock worth $1,193,422,000 after acquiring an additional 19,260,000 shares during the period. Norges Bank acquired a new stake in shares of Uber Technologies in the fourth quarter worth $594,489,000. Fisher Asset Management LLC increased its stake in shares of Uber Technologies by 57.1% in the first quarter. Fisher Asset Management LLC now owns 23,796,816 shares of the ride-sharing company’s stock worth $849,070,000 after acquiring an additional 8,647,468 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Uber Technologies by 145.2% in the second quarter. Assenagon Asset Management S.A. now owns 11,826,227 shares of the ride-sharing company’s stock worth $241,965,000 after acquiring an additional 7,003,848 shares during the period. Finally, Lyrical Asset Management LP acquired a new stake in shares of Uber Technologies in the first quarter worth $199,606,000. Hedge funds and other institutional investors own 71.57% of the company’s stock.

About Uber Technologies

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Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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