Uber Technologies (NYSE:UBER) Trading Down 2% After Analyst Downgrade

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded down 2% during mid-day trading on Wednesday after Guggenheim lowered their price target on the stock from $140.00 to $135.00. Guggenheim currently has a buy rating on the stock. Uber Technologies traded as low as $92.52 and last traded at $92.75. 19,891,505 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 20,742,693 shares. The stock had previously closed at $94.67.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Uber Technologies in a research note on Tuesday, October 14th. Wedbush reduced their target price on Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $115.00 target price (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Barclays reduced their target price on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wall Street Zen downgraded Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $108.26.

Insider Transactions at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total value of $273,405.00. Following the completion of the sale, the chief financial officer directly owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction dated Friday, August 15th. The stock was 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 directly owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 604,946 shares of company stock worth $58,950,116. 3.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Uber Technologies

Hedge funds have recently bought and sold shares of the business. Foster Group Inc. raised its stake in shares of Uber Technologies by 3.3% during the 3rd quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock worth $330,000 after purchasing an additional 107 shares in the last quarter. Sage Rhino Capital LLC raised its stake in shares of Uber Technologies by 4.2% during the 3rd quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock worth $268,000 after purchasing an additional 110 shares in the last quarter. Quent Capital LLC raised its stake in shares of Uber Technologies by 3.3% during the 3rd quarter. Quent Capital LLC now owns 3,504 shares of the ride-sharing company’s stock worth $343,000 after purchasing an additional 111 shares in the last quarter. Emergent Wealth Advisors LLC raised its stake in shares of Uber Technologies by 0.7% during the 3rd quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock worth $1,701,000 after purchasing an additional 114 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC raised its stake in shares of Uber Technologies by 1.3% during the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 8,975 shares of the ride-sharing company’s stock worth $879,000 after purchasing an additional 115 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Price Performance

The stock has a 50 day moving average price of $95.57 and a two-hundred day moving average price of $90.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.11 and a current ratio of 1.15. The company has a market capitalization of $193.42 billion, a PE ratio of 11.92 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results 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 company had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same period last year, the business earned $1.20 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.