Uber Technologies (NYSE:UBER) Shares Down 1% After Insider Selling

Uber Technologies, Inc. (NYSE:UBER)’s stock price dropped 1% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $75.56 and last traded at $75.76. Approximately 3,753,485 shares traded hands during trading, a decline of 81% from the average daily volume of 19,651,368 shares. The stock had previously closed at $76.51.

Specifically, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $206,250.00. Following the sale, the chief financial officer now owns 22,162 shares in the company, valued at approximately $1,662,150. This represents a 11.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. UBS Group restated a “buy” rating on shares of Uber Technologies in a research report on Friday, February 21st. JMP Securities reaffirmed a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $96.00 price target on shares of Uber Technologies in a research note on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.31.

Uber Technologies Trading Down 1.9 %

The stock has a 50-day simple moving average of $73.21 and a 200 day simple moving average of $71.69. 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 $154.95 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Uber Technologies

A number of institutional investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its holdings in shares of Uber Technologies by 18.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 16,381 shares of the ride-sharing company’s stock valued at $1,231,000 after purchasing an additional 2,546 shares in the last quarter. Larson Financial Group LLC increased its holdings in Uber Technologies by 38.1% in the 3rd quarter. Larson Financial Group LLC now owns 3,284 shares of the ride-sharing company’s stock worth $247,000 after acquiring an additional 906 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Uber Technologies by 178.1% during the third quarter. Brown Brothers Harriman & Co. now owns 3,613 shares of the ride-sharing company’s stock worth $272,000 after purchasing an additional 2,314 shares in the last quarter. Qsemble Capital Management LP acquired a new position in shares of Uber Technologies during the 3rd quarter worth about $749,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Uber Technologies by 0.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,306,068 shares of the ride-sharing company’s stock valued at $98,168,000 after buying an additional 11,190 shares in the last quarter. Hedge funds and other institutional investors 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.