Uber Technologies (NYSE:UBER) Trading Down 4.9% on Insider Selling

Uber Technologies, Inc. (NYSE:UBER) shares dropped 4.9% on Wednesday following insider selling activity. The stock traded as low as $92.12 and last traded at $93.07. Approximately 43,880,992 shares traded hands during mid-day trading, an increase of 104% from the average daily volume of 21,506,832 shares. The stock had previously closed at $97.83.

Specifically, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total value of $28,611,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at approximately $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

UBER has been the subject of several analyst reports. Raymond James Financial upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. UBS Group upped their target price on shares of Uber Technologies from $115.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Barclays reaffirmed an “overweight” rating and issued a $110.00 price target (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their target price on shares of Uber Technologies from $101.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.06.

Uber Technologies Stock Performance

The firm’s 50 day moving average price is $92.60 and its 200-day moving average price is $85.02. The firm has a market cap of $194.09 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion for 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%. Uber Technologies’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. On average, analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of Uber Technologies by 33.6% during the first quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company’s stock valued at $890,000 after acquiring an additional 3,073 shares during the period. Geneos Wealth Management Inc. increased its position in Uber Technologies by 805.4% in the first quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company’s stock worth $7,483,000 after purchasing an additional 91,362 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock worth $939,000 after buying an additional 6,129 shares during the period. Davis Investment Partners LLC acquired a new position in shares of Uber Technologies during the 2nd quarter worth about $435,000. Finally, GK Wealth Management LLC acquired a new position in shares of Uber Technologies during the 1st quarter worth about $234,000. 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.