Uber Technologies (NYSE:UBER) Stock Price Down 3% on Insider Selling

Uber Technologies, Inc. (NYSE:UBER) was down 3% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $70.60 and last traded at $70.55. Approximately 4,025,110 shares changed hands during trading, a decline of 79% from the average daily volume of 19,508,068 shares. The stock had previously closed at $72.73.

Specifically, SVP Nikki Krishnamurthy sold 20,000 shares of Uber Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.57, for a total transaction of $1,431,400.00. Following the sale, the senior vice president now directly owns 361,908 shares of the company’s stock, valued at $25,901,755.56. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the sale, the insider now directly owns 114,241 shares in the company, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on UBER shares. Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price objective (up from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. UBS Group reaffirmed a “buy” rating on shares of Uber Technologies in a report on Friday, February 21st. DA Davidson decreased their price objective on Uber Technologies from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Fox Advisors downgraded Uber Technologies from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Uber Technologies Stock Performance

The stock has a 50 day moving average price of $72.25 and a two-hundred day moving average price of $71.56. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market cap of $152.27 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. Analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Institutional Trading of Uber Technologies

Several hedge funds have recently added to or reduced their stakes in UBER. Prospera Financial Services Inc raised its stake in Uber Technologies by 20.5% during the 3rd quarter. Prospera Financial Services Inc now owns 65,657 shares of the ride-sharing company’s stock worth $4,935,000 after buying an additional 11,186 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Uber Technologies during the 3rd quarter worth $8,812,000. PNC Financial Services Group Inc. raised its stake in Uber Technologies by 26.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 326,829 shares of the ride-sharing company’s stock worth $24,564,000 after buying an additional 68,833 shares during the period. West Family Investments Inc. raised its stake in Uber Technologies by 42.0% during the 3rd quarter. West Family Investments Inc. now owns 5,792 shares of the ride-sharing company’s stock worth $435,000 after buying an additional 1,714 shares during the period. Finally, Prospera Private Wealth LLC raised its stake in Uber Technologies by 371.0% during the 3rd quarter. Prospera Private Wealth LLC now owns 16,235 shares of the ride-sharing company’s stock worth $1,220,000 after buying an additional 12,788 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.