Uber Technologies (NYSE:UBER) Shares Down 3.6% Following Insider Selling

Uber Technologies, Inc. (NYSE:UBER) was down 3.6% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $91.55 and last traded at $91.86. Approximately 5,620,397 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 22,022,695 shares. The stock had previously closed at $95.32.

Specifically, SVP Nikki Krishnamurthy sold 11,571 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares in the company, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. UBS Group lifted their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen cut shares of Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Royal Bank Of Canada lifted their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus lifted their target price on shares of Uber Technologies from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Uber Technologies Trading Down 1.7%

The firm has a market capitalization of $195.50 billion, a PE ratio of 15.97, a P/E/G ratio of 1.09 and a beta of 1.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $90.65 and its 200 day moving average price is $82.44.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Uber Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UBER. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies during the first quarter worth about $2,207,743,000. Norges Bank purchased a new stake in Uber Technologies in the second quarter valued at approximately $2,348,319,000. Kingstone Capital Partners Texas LLC grew its holdings in Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares during the period. Pacer Advisors Inc. grew its holdings in Uber Technologies by 2,571.2% in the first quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the period. 80.24% of the stock is currently 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.