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

Uber Technologies, Inc. (NYSE:UBER) shares dropped 3.8% during mid-day trading 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. Approximately 17,041,938 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 20,505,943 shares. The stock had previously closed at $92.57.

A number of other equities research analysts also recently commented on the stock. Susquehanna reiterated a “positive” rating and set a $110.00 price target on shares of Uber Technologies in a report on Wednesday, November 5th. Erste Group Bank lowered Uber Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Sanford C. Bernstein lifted their price objective on Uber Technologies from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 target price on Uber Technologies in a research note on Wednesday, November 5th. Finally, BMO Capital Markets decreased their price target on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Insider Transactions at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 5,500 shares of Uber Technologies stock in a transaction dated Wednesday, November 12th. The stock was 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 of the company’s stock, valued at $1,919,355.30. The trade was a 21.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tony West sold 100,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the sale, the insider directly owned 171,558 shares of the company’s stock, valued at approximately $17,220,992.04. This trade represents a 36.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 567,625 shares of company stock worth $55,385,660 in the last three months. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Uber Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC purchased a new stake in shares of Uber Technologies in the third quarter worth about $25,000. Kilter Group LLC acquired a new position in Uber Technologies during the 2nd quarter worth approximately $26,000. Westend Capital Management LLC purchased a new position in Uber Technologies in the 3rd quarter worth approximately $27,000. West Oak Capital LLC acquired a new stake in Uber Technologies in the second quarter valued at approximately $28,000. Finally, Truvestments Capital LLC raised its stake in shares of Uber Technologies by 498.5% during the first quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock valued at $30,000 after purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Price Performance

The business’s 50 day moving average price is $92.66 and its 200-day moving average price is $91.87. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The company has a market cap of $185.07 billion, a PE ratio of 11.45 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The business had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same period last year, the business earned $1.20 EPS. The business’s revenue was up 20.4% on a year-over-year basis. As a group, 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.