Uber Technologies (NYSE:UBER) Trading Down 3.8% Following Analyst Downgrade

Uber Technologies, Inc. (NYSE:UBER)’s share price fell 3.8% on Tuesday after Morgan Stanley lowered their price target on the stock from $115.00 to $110.00. Morgan Stanley currently has an overweight rating on the stock. Uber Technologies traded as low as $88.91 and last traded at $89.0710. 17,041,938 shares were traded during trading, a decline of 17% from the average session volume of 20,505,943 shares. The stock had previously closed at $92.57.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $108.00 price target on shares of Uber Technologies in a report on Wednesday, October 29th. Cantor Fitzgerald boosted their target price on Uber Technologies from $107.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Arete Research set a $125.00 price target on Uber Technologies and gave the company a “buy” rating in a research report on Wednesday, December 3rd. BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of Uber Technologies in a research note on Tuesday, November 4th. Finally, UBS Group set a $122.00 price objective on shares of Uber Technologies and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Insider Activity at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. This represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the sale, the chief executive officer directly owned 1,132,544 shares in the company, valued at $108,010,721.28. This represents a 20.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 567,625 shares of company stock valued at $55,385,660. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Uber Technologies

Large investors have recently bought and sold shares of the stock. Foster Group Inc. raised its position in shares of Uber Technologies by 3.3% in the 3rd quarter. Foster Group Inc. now owns 3,364 shares of the ride-sharing company’s stock worth $330,000 after buying an additional 107 shares during the period. Sage Rhino Capital LLC increased its stake in Uber Technologies by 4.2% during the third quarter. Sage Rhino Capital LLC now owns 2,740 shares of the ride-sharing company’s stock worth $268,000 after acquiring an additional 110 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Uber Technologies by 3.3% in 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 during the period. Advisors Capital Management LLC lifted its stake in shares of Uber Technologies by 1.8% in the 3rd quarter. Advisors Capital Management LLC now owns 6,398 shares of the ride-sharing company’s stock valued at $627,000 after purchasing an additional 111 shares in the last quarter. Finally, Emergent Wealth Advisors LLC lifted its stake in shares of Uber Technologies by 0.7% in the 3rd quarter. Emergent Wealth Advisors LLC now owns 17,361 shares of the ride-sharing company’s stock valued at $1,701,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Down 3.8%

The stock has a fifty day moving average price of $92.48 and a 200-day moving average price of $91.88. The firm has a market cap of $185.07 billion, a PE ratio of 11.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.15.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter last year, the firm posted $1.20 earnings per share. Uber Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.