Uber Technologies (NYSE:UBER) Stock Price Down 2.2% – Time to Sell?

Uber Technologies, Inc. (NYSE:UBER)’s stock price traded down 2.2% during mid-day trading on Thursday. The company traded as low as $68.92 and last traded at $69.1460. 13,825,172 shares changed hands during trading, a decline of 27% from the average session volume of 18,979,941 shares. The stock had previously closed at $70.68.

Key Uber Technologies News

Here’s some of the latest news about UBER:

• Positive Sentiment: Uber has also signed a food-delivery partnership with Amazon, adding another potential channel for delivery growth; the report provides few details on the deal’s scope. Uber and Amazon food delivery partnership
• Neutral Sentiment: Uber’s UK banking partner Griffin raised $20 million to develop card and stablecoin services. The financing may support the partner’s capabilities, but the report does not describe a direct financial benefit to Uber. Uber’s UK banking partner Griffin raises funding
• Negative Sentiment: Uber Freight cut 80 jobs while hiring nearly 300 in a growth push. The layoffs may raise questions about conditions in the freight business, although the concurrent hiring suggests the changes are not simply a broad contraction. Uber Freight cuts jobs while hiring

Analyst Ratings Changes

UBER has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Uber Technologies in a report on Thursday, November 5th. Mizuho set a $112.00 target price on shares of Uber Technologies and gave the company an “outperform” rating in a research note on Thursday, August 6th. Citigroup initiated coverage on shares of Uber Technologies in a report on Monday. They set a “buy” rating and a $105.00 price target on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $100.00 price target on shares of Uber Technologies in a research note on Wednesday, October 7th. Finally, Oppenheimer decreased their price objective on shares of Uber Technologies from $100.00 to $90.00 in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.08.

Uber Technologies Trading Down 2.2%

The stock has a 50 day simple moving average of $69.78 and a 200-day simple moving average of $72.84. The firm has a market capitalization of $141.19 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.60 and a beta of 1.33. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, November 4th. The ride-sharing company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $14.77 billion for the quarter, compared to analysts’ expectations of $14.66 billion. Uber Technologies had a net margin of 6.13% and a return on equity of 21.37%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.11 EPS. On average, equities research analysts forecast that Uber Technologies, Inc. will post 3.27 EPS for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, CEO Dara Khosrowshahi bought 141,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average cost of $70.96 per share, with a total value of $10,005,360.00. Following the acquisition, the chief executive officer owned 1,367,100 shares in the company, valued at $97,009,416. This trade represents a 11.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 28,170 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $71.31, for a total value of $2,008,802.70. Following the completion of the transaction, the insider directly owned 149,525 shares in the company, valued at approximately $10,662,627.75. This represents a 15.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.81% of the company’s stock.

Institutional Trading of Uber Technologies

Several hedge funds have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Uber Technologies by 2.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,073,845 shares of the ride-sharing company’s stock valued at $416,119,000 after acquiring an additional 160,217 shares during the period. Coastwise Capital Group LLC boosted its stake in shares of Uber Technologies by 13.6% in the third quarter. Coastwise Capital Group LLC now owns 9,160 shares of the ride-sharing company’s stock worth $628,000 after acquiring an additional 1,100 shares during the period. Intesa Sanpaolo Wealth Management grew its position in shares of Uber Technologies by 242.9% during the third quarter. Intesa Sanpaolo Wealth Management now owns 18,553 shares of the ride-sharing company’s stock worth $1,271,000 after purchasing an additional 13,143 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Uber Technologies by 338.4% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,188 shares of the ride-sharing company’s stock worth $81,000 after purchasing an additional 917 shares in the last quarter. Finally, TIAA CREF Individual & Institutional Services LLC grew its position in shares of Uber Technologies by 15.8% during the third quarter. TIAA CREF Individual & Institutional Services LLC now owns 9,314 shares of the ride-sharing company’s stock worth $638,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

About Uber Technologies

Uber Technologies, Inc. operates a technology platform that connects people seeking transportation and delivery services with drivers, couriers, merchants and other providers. Its offerings include rides through the Uber app and food and grocery delivery through Uber Eats. The company also provides logistics services through Uber Freight, which connects shippers with carriers and offers tools for managing freight transportation. Uber’s platform serves users and businesses across markets in North America, Latin America, Europe, the Middle East, Africa and Asia-Pacific.